The Chief Executive Officer of COCOBOD, Dr. Randy Abbey, has revealed that the organisation under past management concealed critical information regarding the sale of 333,766 tonnes of cocoa at a price of $2,600 per tonne— a move he says significantly impacted cocoa pricing for the 2024/2025 season.

Speaking on the matter on Accra-based Joy FM, Dr. Abbey explained that the undisclosed sale contributed to market distortions and weakened Ghana’s bargaining position in the global cocoa trade.

“In 2023/2024, COCOBOD signed contracts it couldn’t deliver,” he added, highlighting the impact of over-committed agreements in the previous season, which he said further compounded challenges in the current crop year.

The revelation raises fresh questions about transparency and accountability within Ghana’s cocoa sector, particularly at a time when global cocoa prices are experiencing significant volatility.

Stakeholders are now calling for a full audit and improved oversight of COCOBOD’s operations to safeguard the integrity and long-term sustainability of the cocoa industry