Ghana’s cocoa regulator has accused some officials at licensed buying companies of using government funds to purchase cheap beans smuggled from the Ivory Coast, thereby depriving local growers of income and threatening Ghana’s reputation for high-quality cocoa. The accusation, made by Jake Kudjo Semahar, Director of Special Services at the Ghana Cocoa Board (COCOBOD), adds a new layer of scandal to what has already been a catastrophic season for Ghanaian cocoa farmers.
The context matters. In February 2026, COCOBOD announced a nearly 30 percent reduction in Ghana’s farmgate price for cocoa. The new producer price was set at GH₵41,392 per metric tonne, equivalent to about $3,580. The cut came after global cocoa prices collapsed from peaks above $10,000 per tonne in early 2025. Before the cut, Ghana’s fixed price had become so misaligned with the international market that foreign traders were simply refusing to buy Ghanaian beans. The result was a liquidity freeze that left farmers across the Western, Eastern, and Western North regions waiting months for payment on cocoa they had already delivered.
Into that vacuum, it appears, some have found an opportunity. Semahar told Reuters that the practice of diverting purchasing funds to buy Ivorian beans had spread across four regions along the Ghana-Ivory Coast border, marking a reversal from earlier smuggling patterns, when Ghanaian farmers were the ones moving cocoa across the border in search of higher prices. The reversal is striking: Ghana’s farmgate price, even after the painful cut, is currently higher than effective prices in Côte d’Ivoire, making Ivorian beans cheap by comparison and tempting for buyers with an eye on margin.
The damage is not only financial. “Apart from denying farmers their income, Ghana is effectively subsidising producers in Ivory Coast,” Semahar said, warning that blending foreign beans with Ghanaian supplies risked eroding the premium quality status that gives the country’s cocoa its global market advantage.
That quality premium is one of the few things the Ghanaian cocoa industry has consistently protected, even as governance structures around it have deteriorated. COCOBOD did not fail because it lacked capable professionals. It failed because a documented structural pattern has systematically removed them across successive political cycles. A forensic and criminal probe covering the past eight years of COCOBOD’s operations has been ordered by Cabinet, alongside a mandate to convert GH₵5.8 billion in legacy debt to equity.
COCOBOD’s anti-smuggling unit arrested four suspects and impounded over 100 bags of Ivorian cocoa at Nkrankwanta in the Dormaa West District, an operation Semahar described as the start of a broader crackdown. The Licensed Cocoa Buyers Association of Ghana, for its part, distanced member companies from institutional involvement, with General Secretary Vitus Dzah placing responsibility instead on individual clerks acting outside their mandate.
The government has mandated that from the 2026/27 season, a minimum of 50 percent of all cocoa must be processed locally, a structural shift that, if achieved, could dramatically increase the value Ghana captures from its most iconic export. Currently, Ghana processes around 23 percent of its cocoa domestically, earning roughly $660 million annually. Moving to 50 percent processing, analysts estimate, could push that figure to $3 billion.