Claim: Member of the communications team of the New Patriotic Party, Dennis ‘Miracles’ Aboagye claims that cocoa prices soared to $13,000 in 2025.
Verdict: Having analysed data from the International Cocoa Organization (ICCO) and the Business Insider, we found the claim to be false.
Full Text
Member of the New Patriotic Party’s communications team, Dennis Miracles Aboagye, is accusing the government of shortchanging cocoa farmers.
Commenting on the government’s decision to cut the farmgate cocoa price paid to farmers, Dennis Aboagye accused the government of being untruthful and unfair.
While questioning an earlier claim by the National Democratic Congress’ Godwin Edudzi Tamakloe that the previous government had already purchased 92% of cocoa beans through forward sale arrangements, Dennis Aboagye said such a claim was inconsistent with the reduction in cocoa producer prices, arguing that if that volume had indeed been sold in advance, it would have been transacted at the prevailing market prices at the time.
“If it is true that COCOBOD had sold 92 per cent of cocoa beans by forward sale by January 2026, they would have sold it at the prevailing price at the time you were selling it,” Aboagye said on Newsfile on Saturday, February 28.
He then claimed that cocoa prices had hit the $13,000/tonne margin in 2025.
“As of August 2025, when they announced new cocoa prices, it was selling at around $7,200. The average for the year was around $7,000. Indeed, at some...
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