COCOBOD threatens to withdraw beans to processing companies

The Ghana Cocoa Board (COCOBOD) is threatening to cut bean supplies to some cocoa processing companies in the country as a result of their indebtedness to the board.

The board is alleging that the companies, numbering five, owe it a total of US$225 million in arrears for beans supplied to them for processing over the years.

The debt was US$250 million last year but dropped to US$225 this year, the Public Affairs Manager of the board, Mr Noah Amenyah, said in an interview.

“Since last year, only US$25 million has been paid by some of the companies. The rest is still outstanding,” Mr Amenyah said on July 27.

The names of the companies are being withheld for business reasons because COCOBOD and the affected companies are in discussions to arrive at payment arrangements.

Some officials of the companies the paper spoke to, who pleaded anonymity, said their outfits were in talks with their partners aimed at resolving the issue.

They further