COCOBOD

Forward Sales Strategy Of Cocoa Beans Aimed At Reducing Price Risks – COCOBOD
10 Jul

Forward Sales Strategy Of Cocoa Beans Aimed At Reducing Price Risks – COCOBOD

Wontumi1Business
The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD) Joseph Boahen Aidoo has explained that, the forward sales strategy of cocoa beans is critical to the growth and sustainability of the sector. He made the statement in reaction to calls by some Civil Society Organisations for COCOBOD to review its forward sales of cocoa marketing system amidst soaring market prices. Speaking to Joy Business after a visit to some farms in the Western and the Central regions, Mr. Boahen Aidoo explained that, the use of forward sales is a deliberate strategy aimed at price risk mitigation and stock management.…
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COCOBOD Secures $100M World Bank Support For Cocoa Rehabilitation
05 Jul

COCOBOD Secures $100M World Bank Support For Cocoa Rehabilitation

Wontumi1Business, ,
The Ghana Cocoa Board (COCOBOD) has secured a US$100 million financing facility from the World Bank to rehabilitate old farms across six cocoa-growing districts in the country. The beneficiary cocoa-growing districts of the project include Assin Fosu, New Edubiase, Nkawkaw, and Juaso. The four-year project would support the cutting down of cocoa trees, which have lived 20 years and above, land preparations, and the provision of planting materials, including seedlings and suckers. Mr Joseph Boahen Aidoo, Chief Executive Officer (CEO), of COCOBOD, made this disclosure in an interview with journalists as part of a field trip to some farms in…
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COCOBOD Announces Start Of Light Crop Cocoa Season With New Prices”
18 Jun

COCOBOD Announces Start Of Light Crop Cocoa Season With New Prices”

Wontumi1Business
The Ghana Cocoa Board (COCOBOD) has announced that the Light Crop Cocoa Season will commence on Friday, June 21, 2024. In a statement issued on June 17, COCOBOD revealed that a tonne of 16 bags will be sold at GH₵33,120.00. The statement specified that the producer price at all buying centers will be GH₵993.60 per load of 30 kilograms for Grade I and II cocoa beans, ex-scale. Additionally, the price for a 64-kilogram bag will be GH₵2,070.00. "The producer price to be paid at all buying centres is Nine Hundred and Ninety-Three Ghana Cedis and Sixty Pesewas (GH₵993.60) per load of…
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Ghanaian Cocoa Farmers Receive $47 More Than Ivory Coast – COCOBOD
09 Apr

Ghanaian Cocoa Farmers Receive $47 More Than Ivory Coast – COCOBOD

Wontumi1News
The Ghana Cocoa Board (COCOBOD), is insisting that the recent farmgate price increment for cocoa farmers is a good deal. According to the Public Relations Officer, Fiifi Boafo, Ghanaian farmers receive $47 more than their counterparts in Ivory Coast. Mr. Boafo therefore maintained that, the farmers have not been shortchanged with the 58% increase in the producer price for cocoa. “The difference between how much Ghana is paying cocoa farmers, and the Ivorians are paying cocoa farmers, we’re paying $47 more to our Ghanaian farmers compared to Ivorian farmers. And the people who told us to replicate what the Ivorians have done,…
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Ghana To Raise Cocoa Farmgate Price By Up To 50% – Cocobod
04 Apr

Ghana To Raise Cocoa Farmgate Price By Up To 50% – Cocobod

Wontumi1Business
Ghana will raise the fixed farmgate price paid to cocoa farmers by up to 50% in an effort to share profits from rising global prices and deter farmers from bean smuggling, a spokesperson at the country’s cocoa marketing board Cocobod said on Wednesday. Cocoa prices have more than tripled over the last year as disease and adverse weather in Ghana and neighbouring Ivory Coast pushed the global market to a third successive deficit. The official farmgate price that growers can charge for their beans in Ghana and Ivory Coast, which supply more that 60% of the world’s beans, has yet…
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Cocobod Attributes Low Production Of Cocoa Beans To Bad Weather
28 Mar

Cocobod Attributes Low Production Of Cocoa Beans To Bad Weather

Wontumi1News, ,
The Public Affairs Manager of Ghana Cocoa Board (COCOBOD), Fiifi Boafo, has attributed the decline in production to adverse weather conditions. According to him, the significant impact of weather patterns on cocoa cultivation, including heavy rainfall at the start of the cocoa season is a primary concern. While acknowledging that rainfall is essential for cocoa production, he noted that the excessive precipitation experienced this season hindered the fruiting process, thus reducing the expected harvest. Furthermore, Mr Boafo highlighted the detrimental effects of severe harmattan conditions on cocoa pods, exacerbating the situation. Mr Boafo gave this explanation when he was contributing to a…
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COCOBOD Anti-illegal Mining Taskforce Apprehends Illegal Miners In Ashanti Region Operation
05 Mar

COCOBOD Anti-illegal Mining Taskforce Apprehends Illegal Miners In Ashanti Region Operation

Wontumi1Business,
Over the weekend, the COCOBOD Anti-illegal Mining Taskforce successfully carried out an operation leading to the arrest of two leaders of an illegal mining gang in Atobrakrom, Antoa district, Ashanti Region. The crackdown also resulted in the confiscation of excavators and other mining equipment. According to Starrfm.com.gh, the operation was prompted by a tip-off highlighting illegal mining activities causing harm to cocoa farms in the area. Responding promptly, the taskforce took swift action to apprehend the offenders, who have subsequently been granted police enquiry bail. Prof. Michael Kwateng, Head of the Anti-illegal Mining Desk at COCOBOD, stressed the significance of…
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Good Prices Remain Best Solution To Cocoa Smuggling – COCOBOD CEO
21 Feb

Good Prices Remain Best Solution To Cocoa Smuggling – COCOBOD CEO

Wontumi1Business,
The Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo has stated that his outfit was committed to giving cocoa farmers the best prices possible as a solution to cocoa smuggling. Appearing before the Public Accounts Committee (PAC) of Parliament on Tuesday to respond to some infractions contained in the Auditor-General's Report for the year ending December 2022, Mr Aidoo said even though the board’s collaboration with national security agencies to fight the menace was yielding positive and far reaching results, favourable prices were the best move to help curtail the incidence in the long term.…
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19 Feb

COCOBOD Secures $200M World Bank Loan To Combat Cocoa Swollen Shoot Virus

Wontumi1Business
The Ghana Cocoa Board (COCOBOD) plans to use a $200 million loan from the World Bank to rejuvenate cocoa farms that have been affected by the cocoa swollen shoot virus in the country. The decline in cocoa production in the 2020/21 season, from 1.048 million tons to 600,000 metric tons, is attributed to several factors, including the widespread virus, aging plantations, and illegal mining and smuggling activities in the cocoa sector. The virus has affected approximately 500,000 hectares of farmland globally, resulting in a decrease in cocoa output in Ghana, the world's second-largest cocoa producer. To address this issue, COCOBOD…
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COCOBOD Denies Neglecting Cocoa Sprayers’ Health Concerns
12 Feb

COCOBOD Denies Neglecting Cocoa Sprayers’ Health Concerns

Wontumi1Business,
The Ghana Cocoa Board (COCOBOD) has reacted to claims that, it is not providing essential medical care to its contracted mass cocoa sprayers following concerns about the toxicity of agrochemicals. This is in response to claims raised by the Ghana National Association of Cocoa Farmers regarding health complications among its members, including reports of blindness and impotence purportedly linked to prolonged exposure to agrochemicals. COCOBOD’s Head of Public Relations, Fiifi Boafo, in an interview on Citi News said the board ensures regular medical check-ups for contracted farmers engaged in cocoa spraying. He refuted the allegations, stressing that the Cocoa Clinic…
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