Cocoa farmers in Ghana are expressing concern over delayed payments for cocoa deliveries, despite the release of 3.62 billion cedis ($336.74 million) by the Ghana Cocoa Board to Licensed Buying Companies (LBCs).
COCOBOD announced last week that the funds were intended to clear outstanding payments dating back to November 2025 and improve liquidity in the cocoa sector, following a directive from the finance ministry.
However, farmers and purchasing clerks report that the money has not yet reached them, raising concerns that the funds may be used to service debts owed by cocoa buyers to banks.
Justice Osei Bonsu, a purchasing clerk, said, “We have still not been paid since November. Farmers think we are holding their money, but the truth is we have not received anything.”
Another clerk, Enoch Egyir, added that payments under both the previous cocoa price and the newly announced price in February remain outstanding. “They have not paid us for what we delivered under the old price since November, nor for what we delivered under the new price. We plead with the government to intervene,” he said.
Farmer Ebenezer Asiful said he is owed for more than 35 bags of cocoa delivered since December, plus 11 bags supplied after the recent price reduction. “We heard in the news that COCOBOD has released funds. So how is it that the LBC we work with has not received any money to pay us?” he asked.
Industry representatives said that payments cannot be made simultaneously to the large number of farmers. Samuel Adimado, president of the Licensed Cocoa Buyers Association of Ghana, explained that with between 800,000 and one million cocoa farmers, it takes time to process payments.
Adimado noted that LBCs currently owe local banks between 7 billion and 8 billion cedis due to loans taken to prefinance cocoa purchases. He said COCOBOD is still releasing funds and urged farmers to remain patient while buyers prioritize settling their dues once the money is received.
“We know you owe the banks, but prioritise the farmers once you receive any funds from COCOBOD,” he advised.
