Cocoa

Cocoa Farmgate Prices See Another Reversal
10 May

Cocoa Farmgate Prices See Another Reversal

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The cocoa industry has experienced its second reversal in farmgate prices over the past five mid-seasons due to global developments, says the March 2023 Cocoa Market Report by the International Cocoa Organisation. The report shows that the farm-gate prices in US$ nominal terms have been higher in Ghana than in neighbouring Côte d’Ivoire over the past five mid-seasons. However, the situation was reversed during the mid-crops for 2021/22 and 2022/23 seasons – mainly due to substantial depreciation of the cedi (GH¢) vis-à-vis the US dollar. For the 2022/23 mid-crop, the Ivorian and Ghanaian regulators have left unchanged the fixed farmgate…
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Ghana’s Domestic Cocoa Production Surpasses Ivory Coast – ICCO
08 May

Ghana’s Domestic Cocoa Production Surpasses Ivory Coast – ICCO

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Ghana has surpassed Ivory Coast in cocoa production over the half year 2022/23 crop season, according to the latest Cocoa Market Report by the International Cocoa Organization (ICCO). As of 31 March 2023, cumulative arrivals of cocoa beans in Ivory Coast were lagging behind previous season levels, while the volume of graded and sealed cocoa beans purchased in Ghana since start of the 2022/23 season was reported at 566,846 tonnes, representing an 18 percent increase from the previous year. Despite the increase in Ghana’s cocoa production, total supply of cocoa beans from the world’s top-two cocoa producers for the first…
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Ghana Recorded Its Highest Ever Cocoa Production In 2020/21 Crop Season – COCOBOD Tells Mahama
28 Apr

Ghana Recorded Its Highest Ever Cocoa Production In 2020/21 Crop Season – COCOBOD Tells Mahama

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The Management of Ghana Cocoa Board (COCOBOD) has indicated that a statement by Former President John Dramani Mahama regarding the increase in cocoa producer prices every year during his administration was inaccurate. The management of COCOBOD said the records available point to the opposite. This was after Mr Mahama accused the Akufo-Addo-led government of destroying the cocoa sector. Mr Mahama indicated that cocoa farmers used to be paid instantly during the era of the National Democratic Congress (NDC) whenever they sold their cocoa. But, he said, it now takes the farmers three months to receive their cash. Also, he added, the farmers no longer…
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Ghana Records $752.8M Trade Surplus In First 2 Months Of 2023
27 Mar

Ghana Records $752.8M Trade Surplus In First 2 Months Of 2023

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Ghana recorded a trade surplus of $752.8 million in the first two months of 2023, about 1.0% of Gross Domestic Product, data from the Bank of Ghana has disclosed. This is far more than the surplus of $205.8 million recorded during the same period in 2021. The significant growth in trade surplus was due to significant proceeds from gold exports, whilst net imports also fell. Importantly, total exports in the first two months of 2023 went up by 11.19% year-on-year to $2.76 billion. Total exports for the first two months in 2022 was $2.48 billion. Crude oil exports fall to…
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Over 70% Of Cocoa Lands In Ghana Will Not Be Suitable Again By 2050 If… – UK’s Harriet Thompson
29 Nov

Over 70% Of Cocoa Lands In Ghana Will Not Be Suitable Again By 2050 If… – UK’s Harriet Thompson

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The United Kingdom High (UK) Commissioner to Ghana, Harriet Thompson has indicated that by 2050, over 70 per cent of the lands in Ghana used to grow cocoa will no longer be suitable for that purpose. She says this will happen if temperatures continue to rise as they are doing currently in the country. Madam Thompson said this in a tweet on Tuesday November 29 after she paid a courtesy call on the Minister of Food and Agriculture Dr Owusu Akoto Afriyie. The courtesy call was to enable the two of them deliberate on issues of relevance in the agriculture sector especially…
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Review ¢800 Cocoa Price Upward To Stop Farmers From Selling Lands To Galamseyers – Govt Told
18 Oct

Review ¢800 Cocoa Price Upward To Stop Farmers From Selling Lands To Galamseyers – Govt Told

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The Coalition for Cocoa Sector Reforms (CCSR) GH has called on the government to impress upon the Ghana Cocoa Board (COCOBOD) to reconsider the 2022/23 producer price announced else, the impact of the ¢800 per bag of cocoa beans  recently announced will be very damaging to the industry. The government through the Ministry of Agriculture recently increased the producer price of cocoa by 21 percent, translating to GH¢800 per bag, from the previous GH¢600. But the CCSR indicated that farmers over the last two decades were always assured of over $100.00 out of the world market price for each bag…
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Increasing Cocoa Price By 21% Is An Insult – COCOBOD Told
06 Oct

Increasing Cocoa Price By 21% Is An Insult – COCOBOD Told

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A cocoa farmer has described as “insulting and disrespectful” the new price for a sack of cocoa beans as announced on Wednesday, October 5. According to Mark Ewusi Arkoh, who is also the National Youth Organiser of the People’s National Convention (PNC), per the current economic conditions and high cost of living, a minimum of GH¢925 should have been settled for the price. The Ministry of Agriculture on Wednesday, October 5 announced a 21 percent increase in cocoa price per sack and this translates to GH¢800. “We are not happy about this increase and we expect COCOBOD to as a matter of urgency review the price upward,” Mr Arkoh said in a statement on Thursday, October 6. “This increment is a pittance compared to the hard toil of the Ghanaian Cocoa Farmer thisseason.” It warned…
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Cocoa Farmers Say They Are Ready To Help Govt Fight Galamsey
05 Oct

Cocoa Farmers Say They Are Ready To Help Govt Fight Galamsey

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The Coalition for Cocoa Sector Reforms (CCSR-Gh) has said cocoa farmers in Ghana are ready to partner the government to ring to end the illegal small scale mining (Galamsey) menace. The group said the farmers are not ready to fall for the the cash incentives  of galamseyers to give out their farm lands for their nefarious activities. In statement, the group said “On galamsey, farmers are ready to help government fight it if only their plea is considered. Farmers will not fall for the cash incentives  of galamseyers if their plea is taken and together we will save the cocoa…
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Cocoa Sector Reforms Coalition Delighted Over $1.13bn Syndicated Loan
05 Oct

Cocoa Sector Reforms Coalition Delighted Over $1.13bn Syndicated Loan

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The Coalition for Cocoa Sector Reforms (CCSR-Gh) has expressed excitement over the $1.13bn Syndicated Loan signed by the Ghana Cocoa Board (COCOBOD) and the Ministry of Finance. The coalition believes that this will go a long way to help cocoa farmers in the country. They said it is insightful to note that, the industry has contributed over 25bn to this economy in terms of syndicated loans over the past 30yrs. This is quite significant and remarkable. It justifies the magnificent importance of the industry to the economy, more importantly, this period of depreciating currency. COCOBOD on Monday October  signed the…
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Cocoa Farmers Are Growing Poorer And Poorer; They’re Now More Vulnerable Than Ever – Group
29 Sep

Cocoa Farmers Are Growing Poorer And Poorer; They’re Now More Vulnerable Than Ever – Group

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The Coalition for Cocoa Sector Reforms has told the Ghana Cocoa Board (COCOBOD) to work to ameliorate the economic conditions of cocoa farmers. According to the group, cocoa farmers are growing poorer and are now more vulnerable than ever before. In a press statement, the Coalition said the farmers deserve not less than 100% increase in farm gate price beginning the 2022/23 season. “We wish to emphasize for the attention of COCOBOD and for that matter government that, cocoa farmers are growing poorer and poorer and are now more vulnerable than ever before. “They deserve no less than 100% increase…
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