Dennis Miracles Aboagye, spokesperson for former Vice President Dr Mahamudu Bawumia, has attributed the ongoing cocoa sector crisis to what he describes as poor trading decisions by the management of the Ghana Cocoa Board (COCOBOD).
In a Facebook post, Mr Aboagye criticised COCOBOD for opting for spot sales over forward sales, a strategy he said has left the Board exposed following a sharp decline in global cocoa prices.
“Poor Trading decision by the CocoBod team is the cause of the current crisis. They decided to do spot sales instead of forward sales. While waiting for spot, the global cocoa price dropped, and now they are stuck,” he wrote.
The comments come amid widespread concerns over delayed payments to cocoa farmers, supply chain disruptions, and the sector’s inability to capitalise on earlier high international prices.
In a separate post, Mr Aboagye expressed disappointment with recent remarks by COCOBOD Chief Executive Officer, Dr Randy Abbey, who apologised to farmers for the challenges and assured them that COCOBOD and the government are actively seeking solutions.
Mr Aboagye argued that the assurances lack substance, given that the difficulties in the sector reportedly began as far back as November 2025.
“I listened to the COCOBOD CEO, and I wasn’t inspired. This crisis started as far back as November 2025, and here we are in February 2026, still telling farmers you’re ‘looking for solutions’. That is not assurance,” he stated.
Dr Abbey had earlier acknowledged the hardships facing cocoa farmers, including payment delays and logistical issues, while reiterating that efforts are underway to resolve them and restore confidence in the industry.
The cocoa sector remains under intense scrutiny as Ghana, one of the world’s top producers, grapples with falling output, smuggling concerns, and the impact of volatile global prices on farmer incomes and national revenue.