Tag: Cocoa
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Government to set up Authority for four tree crops
The Agric Ministry has presented a bill to Parliament to enable it to set up an Authority to regulate the production and export of four major tree crops including rubber, mango, Shea and Cashew. Deputy Minister of Agriculture Dr. Sagre Bambangi disclosed this at Citi FM’s Ghana Rising Conference. According to him, the move forms…
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President Akufo-Addo to announce new cocoa price on Oct 1, 2019
The Chief Executive Officer of COCOBOD Joseph Boahen Aidoo has stated that president Akufo-Addo will announce a new cocoa price for farmers on October 1, 2019. He maintained that cocoa farmers will be given priority in setting the new price for the commodity for the 2019/2020 crop season. “I have always told our farmers to…
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Cocoa farmers’ price to be increased to GH¢8,000 per tonne
Ghana will raise cocoa farmgate prices by 5.2% for the 2019/20 season, the first increase in four years, following strong sales of export contracts to chocolate makers and cocoa houses, industry sources have told Reuters. The farmgate price will rise to GH¢8,000 (US$1,523.81) per tonne for the season starting in October from GH¢7,600 per tonne…
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Produce Buying Company needs financial bailout — workers reveal
Workers of the Produce Buying Company (PBC) Limited have appealed to the government for a bailout to enable the company service its debt and re-profile its short term maturing debt to a long-term one. This, they said, would give the company the needed space to recover and retire all debt properly to ensure that it…
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Ivory Coast, Ghana pricing agreement causing a ‘spike in cocoa cost’
A new cocoa pricing mechanism announced by top growers Ivory Coast and Ghana earlier this month is causing cocoa costs to rise, a Mondelez International Inc (MDLZ.O) executive said on an earnings call with analysts on Tuesday. “It is fair to say that given some of the proposals that are coming out of Cote D’Ivoire…
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Cocobod denies failing to get buyers for Ghana cocoa
The management of Ghana Cocoa Board and its subsidiary, the Cocoa Marketing Company (CMC), have stated that reports that they could not get buyers for Ghana’s cocoa are outright false. A press release released by Cocobod, said Ghana and Cote d’Ivoire last week lifted the suspension of the sale of 2020/21 cocoa beans after officially…
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Ghana, Ivory Coast to meet cocoa buyers in September
Citi Business News has gathered that officials from Ghana and Ivory Coast will meet cocoa processors and Chocolatiers on the international market in September to discuss issues surrounding sustainability in the cocoa value chain. The meeting which will take place on September 11, 2019, in Abidjan, Ivory Coast is to, among things, look into how…
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Cocobod plans distribution of 60 million hybrid seedlings to farmers
COCOBOD will this year distribute about 60 million hybrid cocoa seedlings free of charge to farmers across the cocoa growing districts to plant to increase their yield and incomes. Kwadwo Danso, Ashanti Regional Manager of Cocoa Health and Extension Division (CHED) of COCOBOD, who announced this said the new hybrid cocoa trees were tolerant and…
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Buyers boycott Ghana cocoa after new floor price — sources
The world’s second-largest cocoa producer offered to sell beans for the first time since introducing a surcharge, and found no buyers, according to people familiar with the matter. Ghana’s Cocoa Marketing Company, responsible for selling the nation’s cocoa, offered beans for 2020-21 to traders on Wednesday, said the people, who asked not to be identified…
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Lifting of suspension of cocoa sales based on positive feedback — Cocobod
Cocobod says the lifting of the ban on the sale of cocoa beans for the 2020/2021 crop season is based on a positive response Ghana and Ivory Coast have received from the international market. The two largest cocoa producers a few weeks ago suspended the sale of cocoa beans for the 2020/2021 crop season while…