Tag: Cocoa
-
GAWU rejects reduction of cocoa prices in Ghana
The General Agricultural Workers’ Union (GAWU) has opposed suggestions that government reviews downwards the producer price for cocoa to offset any drop in revenue from the cash crop. GAWU fears any such move will have dire implications for the cocoa sector and distort economic plans for the year. The Economist Intelligence Unit (EIU) has warned…
-
Ghana to lose cocoa lands to galamsey if …
The CEO of COCOBOD, Joseph Boahen Aidoo fears the country could lose a significant size of cocoa lands to galamsey activities if funds to improve the livelihoods of farmers delay any further. As a result, the Ghana COCOBOD has impressed on the African Development Bank (AfDB) to expedite processes in granting request for funding to…
-
Declining cocoa prices cost Ghana $ 1bn annually
Ghana is losing at least 1 billion dollars every year from the declining prices of cocoa on the international market. The development is also said to be impacting on projected revenue from the cash crop to improve operations in the subsector. The development notwithstanding, the government has maintained the producer price of cocoa for farmers.…
-
Ghana’s trade surplus hits 1.4 billion dollars – BoG
New figures from the Bank of Ghana have shown that Ghana’s total balance of trade recorded a surplus of 1.429 billion dollars as at June this year. This is equivalent to 3.1 percent of GDP. The surplus is an improvement over the 1.4 billion dollars deficit recorded in the same period last year. This has…
-
COCOBOD hopeful of 2016/17 targets as it signs new LBC
The Ghana COCOBOD has reiterated its optimism of meeting the one million metric tonnes cocoa output target at least by the end of the next four years. According to the Cocoa industry regulator, its optimism stems from its ability to meet the over 800 thousand metric tonnes target for the 2016/2017 crop season. The CEO…
-
Cassava, soya beans to rescue economy from declining cocoa prices
Players in the agric sector have made fresh appeals to develop other export yielding ventures to increase Ghana’s export revenue. The renewed calls also come at a time that export revenue from cocoa is expected to drop due to declining global market prices. They contend that the increased options will shield the country from impacts…
-
Cocoa revenue to drop further over falling global prices – Agric Minister
The Minister of Agriculture, Dr. Owusu Afriyie Akoto has predicted a further drop in revenue from cocoa for this year. This also comes after the ten percent drop in revenue from cocoa exports between February 2016 and February 2017. According to the Minister, the declining global price of cocoa will largely affect the cocoa subsector…
-
Ghana likely to miss 2017/18 cocoa target over unfavourable weather
Ghana may miss its cocoa production target for the 2017/2018 crop season if the weather pattern forecast by the Ghana Meteorological Service is anything to go by. The service has predicted severe weather pattern that may cause downpour leading to flooding in the coastal zones but minimal levels in the middle belt. Already, the number…
-
Cocoa sector target will be exceeded- Afriyie Akoto
The Minister of Agriculture, Dr. Owusu Afriyie Akoto is confident his outfit will exceed the production target set by government for the cocoa sector for this year. According to him, government has begun strategizing to restore the cocoa sector into a high yielding state. “The fact that cocoa has been moved from the ministry of finance to…
-
Cocoa has seen improvement with our government – Terkper
Outgoing Finance Minister Seth Tekper has debunked claims by cocoa dealers about the dwindling profits on cocoa proceeds. According to him, the cocoa sector is still profitable and will not deteriorate. Cocoa yields for the 2016 crop season fell short of one million tons causing cocoa dealers to express severe reservations. But speaking on the…