Tag: COCOBOD
-
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…
-
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…
-
Cocobod to borrow US$1.3 billion in syndicated loans
Ghana Cocoa Board will raise US$1.3 billion in syndicated loans for its operations in the 2019/2020 season, the Minister of Finance Ken Ofori-Atta announced in Parliament on Monday. The programmes include, hand pollination/pruning of cocoa farms, rehabilitation of diseased and over-aged farms, irrigation in dry seasons, and farmer database, among others. It was meant to…
-
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…
-
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…
-
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…
-
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…
-
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…
-
Ghana, Cote d’Ivoire lift ban on cocoa sales
Ghana and Cote D’Ivoire have lifted the suspension of cocoa sales for the 2020/2021 season, effective July 16. The decision was contained in a joint communiqué issued and signed by Mr. Joseph Boahen Aidoo, the Chief Executive of the Ghana Cocoa Board, and the Chief of Cote d’Ivoire’s Coffee and Cocoa Council, Yves Kone-Brahima. The…
-
Gov’t procures motorised slashers for cocoa farmers
Cocoa farmers in Ghana will from October this year begin the use of Motorised Slashers to weed their farms. This is a move towards mechanised farming which would help reduce the drudgery of the current practice of manual weeding involving the use of cutlasses and hoes, to prune farms. It also ties in…