By Nathan Kollie
The Liberia Agriculture Commodity Regulatory Authority (LACRA) has rolled out a set of new standards aimed at strengthening transparency and fairness in the country’s cocoa market.
These regulations apply to both local cocoa buyers and farmers, and are designed to foster equitable trade practices and elevate the quality of cocoa production in Liberia.
The announcement was made during a joint interview in Gbarnga by LACRA officials Mr. Laywon Quapiurlee and Inspector Mr. Isaac Bryan. They confirmed that the new guidelines officially took effect on August 5, 2025, with a strategic focus on enhancing market opportunities for farmers, particularly within Bong County.
Mr. Quapiurlee and Mr. Bryan emphasized that compliance with the updated standards is essential for building a more transparent and inclusive cocoa economy. The regulations aim to ensure that all stakeholders—buyers and producers alike—are treated fairly, while maintaining high-quality benchmarks for cocoa being traded.
To illustrate the practical impact of the new system, the officials cited a pricing example: if a buyer offers $4.50 per unit of cocoa, that amount should now be multiplied by the prevailing Central Bank exchange rate. This approach introduces a standardized method for determining value, promoting greater accuracy and accountability in transactions.
According to LACRA, the implementation of these reforms has already led to a notable increase in cocoa’s market value—an encouraging development for farmers. The rise in earnings is expected to improve financial planning and stability for producers, reinforcing the sector’s potential as a driver of rural economic growth.
LACRA is urging all cocoa stakeholders to familiarize themselves with the new regulations and take full advantage of the improved market conditions.
