Tag: COCOBOD
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COCOBOD to announce new cocoa prices today
The Ghana Cocoa Board will later today announce a new producer price for cocoa. The new figure will be the benchmark at which cocoa beans will be purchased from cocoa farmers. For the just ended crop season, COCOBOD kept the price of a tonne of cocoa unchanged, at 7,600 cedis. It is unclear whether the…
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Ghana, Cote d’Ivoire pursue joint cocoa sector reforms
Ghana and Cote d’Ivoire have agreed on at least twelve actions to be adopted by both countries as they collaborate to improve the cocoa sectors of their respective economies. Following a meeting between the Presidents of the two countries in March, the Ghana COCOBOD and its equivalent body in Cote d’Ivoire met in Accra between…
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PBC records losses in 2017; marks 2nd time in a row
The Produce Buying Company (PBC) is embarking on major cuts in administrative expenses to sustain the company’s operations. It follows the company’s losses for yet another time as at December 2017. PBC recorded a loss after tax of 22.4 million cedis in 2017; up from the 15.92 million cedis recorded the preceding year. A development…
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COCOBOD restructures debt payment plan with CPC, WAMCo
The Ghana Cocoa Board (COCOBOD) is confident of an eventual repayment of all outstanding debts owed it by institutions that rely on its supplies. The industry regulator believes the new terms should also afford such debtors, time to turn around their operations to grow the cocoa industry. The Cocoa Processing Company (CPC) and the West…
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Farmers consolidate for ‘better’ cocoa prices
Cocoa farmers will in July this year (2018) meet with the Ministry of Agriculture to discuss the pricing of cocoa for the subsequent crop seasons. The farmers argue that it has become critical for government to actively engage them in determining the price of cocoa following developments in the sector such as the declining price…
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Political interference threatens future of Ghana’s cocoa
Ghana’s cocoa sector risks a dip if the country fails to address the politicization of the sector. According to the International Food Policy Research Institute (IFPRI), the issue has affected the growth of the cocoa sector as politicians have over the years, used cocoa’s prospects to their gain. The warning also comes at a time…
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COCOBOD condemns takeover of cocoa lands by rubber plantation
The Ghana COCOBOD has condemned the recent and continuous destruction of cocoa plantations by illegal mining companies. The cocoa regulator has also bemoaned the sale of cocoa farm lands to rubber plantation investors by land owners. Some cocoa farmers in the Eastern Region have threatened to embark on a demonstration to register their displeasure over…
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CPC extends payment for 20 million dollar debt
The Cocoa Processing Company (CPC) has disclosed to Citi Business News it has re-engaged its lenders to extend the payment dates for debts owed, by at least three more years. The CPC maintains that the decision is necessary to stay relevant in the cocoa sector and give investors value for money. The cocoa processor is…
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Contractors demand payment for work on cocoa roads
The Association of Road Contractors is appealing to government to speed up the processes it is following, to pay its members monies owed them for the construction of roads in cocoa growing areas. In 2015, the erstwhile NDC government launched a one hundred and fifty million dollar ($150 m) project to improve road infrastructure in…
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COCOBOD not considering reduction in cocoa prices
The Ghana Cocoa Board (COCOBOD) has refuted claims of a possible decrease in producer price of cocoa to farmers. COCOBOD says although the review committee has met, it is yet to come out with a decision. Government last year [2017], maintained the producer price for the 2017/2018 crop season at 7,600 cedis per metric tonne.…