Minority calls for Randy Abbey’s sacking over cocoa crisis

The Minority in Parliament has demanded the dismissal of COCOBOD CEO Dr. Randy Abbey over what it describes as a deepening cocoa sector crisis.

At a press briefing in Accra on Thursday, February 12, Kojo Oppong Nkrumah, Ranking Member on Parliament’s Economy and Development Committee, urged President John Dramani Mahama to remove the Chief Executive Officer of the Ghana Cocoa Board, citing policy inconsistencies and farmer hardship.

The Minority argued that the recent adjustment of the producer price represents a severe setback for cocoa-growing households.

They estimate that more than one million farmers could see their incomes shrink following what they calculate as a 28.6 per cent reduction.

“This places an unfair burden on our cocoa farmers, who are already struggling with rising costs. The Minority will not remain silent on this matter, and we are prepared to support farmers should they decide to protest against the reduction in the producer price,” Mr. Oppong Nkrumah said.

Government announced a new producer price of GH¢41,392 per tonne, equivalent to GH¢2,587 per bag, effective February 12 for the remainder of the 2025/2026 crop season. The rate replaces the earlier GH¢51,660 per tonne set at the beginning of the season in August 2025.

The development follows months of volatility in the sector. The 2025/26 season initially pegged prices at 70 per cent of a Gross FOB price of US$7,200 per tonne, calculated with an exchange rate of 10.25 cedis to the dollar.

However, on October 1, 2025, neighbouring Côte d’Ivoire announced a farmgate price 20 per cent higher than Ghana’s, raising fears of cross-border smuggling.

Authorities warned that the disparity, compounded by exchange rate movements, created “significant difference in the producer price of cocoa between Côte d’Ivoire and Ghana” with the potential to divert beans across the border.

To counter that threat, the Producer Price Review Committee increased the rate to GH¢58,000 per tonne, reflecting an exchange rate of 11.5 cedis to the dollar. Government maintained that the upward revision made Ghana’s price competitive and curtailed smuggling risks.

But as global cocoa prices declined from October 2025, COCOBOD reportedly continued sales until prices dipped below US$6,400 per tonne, the estimated cost from farmgate to port.

Finance Minister Cassiel Ato Forson has defended the latest downward adjustment, saying it is intended to stabilise the industry and guarantee prompt payments to farmers.

The Minority, however, insists leadership changes at COCOBOD are necessary to restore trust.