Tag: COCOBOD
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All shareholders must agree to delist CPC – COCOBOD
It appears that appeals to delist the Cocoa Processing Company (CPC) from the Ghana Stock Exchange, may not be heeded anytime soon as the majority shareholder, the Ghana COCOBOD, is yet to make any decision on the issue. Workers of the CPC, last month, ignited calls for the company to be removed from the list…
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COCOBOD launches artificial pollination programme
A Hand Pollination Piloting Program has been launched by the Ghana Cocoa Board to boost production of cocoa to 1 million tonnes by 2020. According to the CEO of COCOBOD, Mr. Joseph Boahen Aidoo, at a time where the world market price of cocoa is fluctuating, the hand pollination program will “compensate for the fall in…
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2017 light cocoa crop season opens
The Ghana COCOBOD today announced the opening of the 2017 light crop cocoa season. A statement from COCOBOD and copied to Citi Business News indicated that the purchases of cocoa beans will also begin today. According to COCOBOD, the producer price to be paid at all buying centres is GH¢475.00 for every 64 kilograms bag…
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COCOBOD to supply CPC with beans despite indebtedness
The Ghana COCOBOD has served notice it will supply about thirty thousand metric tonnes of cocoa beans to the Cocoa Processing Company (CPC) within the next few weeks to sustain the operations of the company. The CEO of COCOBOD, Joseph Boahen Aidoo who disclosed this also said the plan is to make the CPC viable…
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Army worm invasion will not reduce cocoa output – COCOBOD
The Ghana COCOBOD has ruled out any significant impact of the army worm infestation on the output for cocoa for the 2016/2017 crop season. COCOBOD explains to Citi Business News it has managed the situation to prevent a widespread infestation. The Public Affairs Manager of COCOBOD, Noah Amenyah however admitted that the pests have affected…
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Ghana to borrow $1.3bn for 2017/2018 cocoa purchases
Government has defended its decision to reduce the syndicated loan for cocoa beans purchases for the 2017/2018 crop season, by about 28 percent. The country will be seeking 1.3 billion dollars from its lenders for cocoa purchases for the next crop season which starts in October 2017. This amount is lower compared to the 1.8…
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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…
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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…
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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…
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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…