The Licensed Cocoa Buyers Association of Ghana (LICOBAG) has appealed to cocoa farmers to remain patient amid delays in payments for cocoa that has already been purchased.
Speaking on Bullet TV’s Morning Target on March 9, LICOBAG President Samuel Adimado assured farmers that efforts are underway to address the situation and ensure they receive their funds.
“Our dear farmers, have patience. Once the feedback comes, we will make sure you receive your money and the money you receive will be the old price,” he said.
Mr. Adimado explained that the association is seeking feedback from cocoa-producing communities to better understand the challenges on the ground and help resolve the payment issues.
“We need feedback from the field to identify where the challenges are so that they can be addressed,” he noted.
He added that LICOBAG will work with regulators and other stakeholders to ensure that the payment process is properly
managed and that funds are channeled to farmers whose cocoa has already been picked but are yet to receive payment.
Mr. Adimado further explained that over the years Licensed Buying Companies (LBCs) have relied on loans from banks to mobilise funds to buy cocoa from farmers, stressing that efficiency is key to the survival of the companies.
He also reminded farmers to follow the proper procedures by handing over well-dried cocoa to the purchasing clerk, who will handle the transaction.
Credit: Mavis Fantevi
