COCOBOD threatens to withdraw LBC licences over cocoa purchases on credit

COCOBOD Chief Executive Officer, Dr Randy Abbey, said the directive is part of efforts to improve liquidity in the cocoa purchasing system and ensure farmers receive prompt payment for their produce.

The directive comes ahead of the implementation of a new financing arrangement for cocoa purchases from the 2026/27 crop year.

Dr Abbey said the model is expected to provide adequate funding for cocoa procurement and related activities throughout the year, reducing delays in payments to LBCs after they take over cocoa receipts from farmers.