The Cocoa Marketing Company (Ghana) Limited has urged that reforms in Ghana’s cocoa sector be anchored on a clear understanding of the country’s marketing architecture to sustain investor confidence and foreign exchange earnings.
In a policy brief authored by Dr Wisdom Kofi Dogbey, Managing Director of the Company, and shared with the Ghana News Agency, the institution said persistent mischaracterisation of Ghana’s cocoa marketing system continued to distort public discourse and policy direction.
The brief explained that Ghana’s cocoa marketing system was a structured model involving farmers, Licensed Buying Companies, quality assurance institutions and the Cocoa Marketing Company as the exclusive interface with international buyers.
It noted that while the system had been widely discussed, it was often “reduced to oversimplified narratives,” leading to confusion about how cocoa moves from farm gate to the global market.
“When the purchasing function is conflated with the marketing function, or price‑setting mechanisms are mistaken for trading strategy, the result is a distorted public conversation,” the brief stated.
The Company said solutions lay in improving stakeholder understanding of the distinct roles within the cocoa value chain, particularly the commercial and risk management functions performed by the Cocoa Marketing Company.
It highlighted that the Company’s forward sales programme, tied to international benchmarks such as ICE London, ensured price stability, managed counterparty risks and guaranteed delivery performance across multiple markets.
“These are functions that demand both institutional continuity and real‑time market intelligence. They are not reducible to a single headline or political sound bite,” it said.
Dr Dogbey emphasised that Ghana’s model, though complex, had delivered long‑term benefits, including reliable foreign exchange inflows, consistent quality standards and sustained buyer confidence.
The brief noted that the coordinated system provided predictability for international processors and manufacturers, especially at a time when global supply chains faced increasing regulatory scrutiny, including compliance with the European Union Deforestation Regulation.
It cautioned that reforms based on incomplete narratives could disrupt these gains, stressing that “assumptions shaped by incomplete narratives, however well‑intentioned, are a poor foundation for policy.”
As part of proposed solutions, the Company called for enhanced public education, structured media engagement and fact‑based policy discussions to improve transparency and deepen understanding of the sector.
It said strengthening communication between institutions and stakeholders would build trust and ensure reforms supported, rather than weakened, the existing system.
The brief reiterated the Company’s commitment to demystifying cocoa marketing through continuous engagement with policymakers, the media and industry players.
“Cocoa is not just a commodity. In Ghana, it is a national institution. And institutions earn trust not only through performance, but through transparency,” it added.
Source: GNA