COCOBOD Debunks Fake News of Cocoa Price Hike

Feb 17, 2025 - 11:44

Feb 17, 2025 - 11:54

COCOBOD Debunks Fake News of Cocoa Price Hike

Newly Appointed Chief Executive Officer for COCOBOD, Randy Abbey inspects cocoa products during his inaugural visit to the outfit

Accra, Ghana - 17 Feb, 2025 - Ghana's cocoa industry has been rocked by false claims of a significant price increase, with the Ghana Cocoa Board (COCOBOD) dismissing the reports as "completely untrue".

The rumors, which circulated on social media, suggested that the government through the Minister of Agriculture, Eric opoku had announced a 70% increase in cocoa prices, with farmers set to receive 70% of the world market price.

However, COCOBOD has urged stakeholders and the public to disregard the misinformation, emphasizing the importance of relying on official communication channels for accurate updates on cocoa pricing.

In a social media post, the regulatory body warned that any price changes will be announced through the appropriate channels, and not through social media flyers or other unofficial sources.

''Our attention has been drawn to a false flyer circulating on social media claiming that the Minister for Food and Agriculture has announced an increase in cocoa prices. This information is completely untrue'', portions of the post read.