Tag: COCOBOD
-
2018 National Best Cocoa Farmer lauds reforms in cocoa sector
The 2018 National Best Cocoa Farmer, Charles Gyamfi has described the recent reforms undertaken by the Ghana Cocoa Board (COCOBOD) and its counterpart in Ivory Coast, such as agreeing on an additional four hundred dollars per tonne price for cocoa, as critical for boosting interest in Cocoa farming. The two countries moved to ensure that the price…
-
Ghana, Cote d’Ivoire to pay 70 percent of floor price to cocoa farmers
Cocoa farmers in Ghana and Cote d’Ivoire will henceforth be entitled to a minimum of seventy percent of the agreed floor price. By this, farmers are expected to receive 1,820 dollars per tonne of cocoa beans sold granted the floor price is held constant at 2,600 dollars. In addition, the farmers will henceforth be protected…
-
Ghana, Cote D’Ivoire announce more cash for cocoa farmers
Ghana and Cote D’Ivoire have announced a US$400 per tonne (Living Income Differential) to be paid to cocoa farmers, as part of a set of measures they believe will further cushion cocoa farmers — having already agreed to a minimum price for a tonne of cocoa sometime last month. A meeting in Accra between the…
-
COCOBOD engages 22 banks to raise syndicate loan for 2019/20 crop season
The Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo is hopeful COCOBOD will be able to raise the needed funds to finance the 2019/2020 crop season through a syndicated loan. According to him, a team from COCOBOD and other relevant state institutions had a successful roadshow last week after engaging twenty-two banks abroad to raise…
-
Cocobod seeking US$1.3bn syndicated loan for cocoa purchases
Cocobod has begun talks with some banks outside the country to help facilitate about US$1.3 billion needed to purchase cocoa beans in the upcoming 2019/2020 crop season. Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo earlier told the media, “Initially we are expecting $1.3 billion. We tread cautiously even though our production has gone above…
-
Cocoa prices rise as Ghana, Cote d’Ivoire threaten supply cut
Cocoa prices rose sharply on Wednesday after key producers Cote d’Ivoire and Ghana threatened to stop selling their products to buyers unwilling to meet a minimum price. The threat pushed the September forward contract for the commodity, listed in New York, to $2,540 a tonne, up 1.4 percent on the day. The two African nations,…
-
Ghana, Cote d’Ivoire secure US$2,600 minimum price for tonne of cocoa
Stakeholders in the cocoa value chain have agreed to a proposal by Ghana and Cote d’Ivoire to set a minimum price of US$2,600 per tonne for the cash crop after a historic meeting in Accra, the two countries have announced. The two-day meeting held in Accra, which was called at the instance of the two…
-
Ghana, Cote d’Ivoire propose US$2,600 minimum price for cocoa
Ghana and Cote d’Ivoire yesterday told major cocoa buyers including processors and chocolate manufacturers amongst others that they want at least US$2,600 for a tonne of cocoa produced, Citi News has gathered. The two countries have been meeting key stakeholders in the cocoa value chain to discuss cocoa farmers’ income in Accra. The US$2,600 proposal…
-
Ghana, Cote d’Ivoire reportedly halt sale of cocoa beans for 2020/21 crop season
Ghana and Cote d’Ivoire have suspended the sale of cocoa beans to the open market in the 2020/2021 crop season until further notice, the state-owned Daily Graphic is reporting. The two countries, which contribute more than 65 percent of the world’s cocoa supply, are said to have announced their decision to about 300 stakeholders in…
-
Bawumia backs cocoa buyers, chocolate manufacturers to agree to minimum price for cocoa
Vice President Dr. Mahamudu Bawumia is backing major cocoa beans buyers, top chocolate manufacturers among other stakeholders meeting in Accra, to agree to a proposal of introducing a maiden floor price for the cash crop. The meeting which has been called at the instance of Ghana and Cote d’Ivoire is to agree among all key…