President John Dramani Mahama has revealed that the Ghana Cocoa Board's (COCOBOD) balance sheet indicates a total debt of GHS32.5 billion, with GHS9.7 billion due by the end of September 2025.
Delivering the State of the Nation Address in Parliament in Accra on Thursday February 27, he noted that during the 2023/2024 crop season, COCOBOD was unable to supply 333,767 metric tonnes of cocoa, which had been sold at $2,600 per tonne.
As a result, the previous management rolled over these contracts into the 2024/2025 season.
This rollover means that for every tonne of cocoa delivered this year to fulfill the contracts, COCOBOD and Ghanaian farmers will lose $4,000 in revenue.
