The Ghana Cocoa Board (COCOBOD) has criticized former President John Dramani Mahama's remarks regarding the government's decision to raise the cocoa bag price to GH₵1,300.

Mahama had labeled the government as "insensitive" to farmers' concerns, asserting that the increase fell short.

In a statement dated September 12, COCOBOD CEO Joseph Boahen Aidoo suggested that Mahama should be well-acquainted with the cocoa producer price determination process.

Aidoo clarified that for the 2023/24 crop, cocoa had been sold at international prices ranging from $2,200 to $2,400 per tonne between October 2022 and March 2023.

“Since you have had the privilege of being in government before as the number one gentleman of the country, it is expected that you would be familiar with the process for determining the producer price of cocoa.

“I am, therefore, surprised that you chose, rather erroneously, to use the current international market price of cocoa at $3,600 per tonne as the basis for your calculation in your post on the recently announced producer”.

It was reported by COCOBOD that the 2023/24 crop was sold at international prices between October 2022 and March 2023, ranging between $2,200 per tonne and $2,400 per tonne.

“You are fully aware that Ghana’s cocoa beans are mostly sold forward. This means that the 2023/24 crop was sold between October 2022 and March 2023 at international prices; ranging between $2,200 per tonne and $2,400 per tonne. The international price of cocoa then began to increase in April 2023, when a greater percentage of the 2023/24 crop had already been sold,” COCOBOD said in its statement.