The Ghana Cocoa Board will need to raise some 200 million dollars for the purchase of cocoa for the remaining months in the year.
New Board Chairman Hackman Owusu Agyemang had earlier indicated that some 1.8billion dollar loan facility secured for the year had already been expended leaving the board cash strapped.
Notice was also served of a slash on remuneration for top executives at the board.
Speaking to the press on the sidelines of a stakeholders forum on Improving cocoa production, Deputy CEO, Dr. Adu Ampomah said the board will have to raise funds from domestic sources.
Dr.Ampomah also revealed that negotiations on remuneration are still ongoing and that management was not opposed to the pay cut.