Tag: Living Income Differential
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Failure of foreign countries to pay LIDs on cocoa beans disheartening – COCOBOD CEO
Ghana and Ivory Coast’s move to combat farmer poverty with a living income premium for their cocoa sales is being undermined by chocolate makers scaling down purchases and negotiating discounts on other parts of the prices. This, the Ghana Cocoa Board, says is disheartening and must be checked with all urgency. The premium is being…
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Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative
As part of efforts to bring some relief to cocoa farmers in Nigeria and help them achieve a living income, the world’s fourth leading producer of cocoa has begun processes to join the Ghana-Côte d’Ivoire Initiative. The Ghana-Côte d’Ivoire Initiative was promulgated by the two leading producers of cocoa in the world, Ghana and Côte…
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Ghana, Ivory Coast to cancel all cocoa sustainability schemes of chocolate maker Hershey
Ghana and Ivory Coast, the world’s leading producers of cocoa have threatened to cancel all cocoa sustainability schemes that U.S.-based Hershey runs in these countries. Both countries according to Reuters have accused the chocolate maker of trying to avoid paying the cocoa premium known as the Living Income Differential (LID) which is aimed at combating…
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COCOBOD must monitor to ensure cocoa farmers enjoy new producer price – GCCP
The Ghana Civil-Society Cocoa Platform (GCCP), has charged COCOBOD to strengthen its surveillance at various depots and cocoa-sheds to ensure cocoa farmers enjoy the new farm gate price for cocoa without being cheated. Over the years, some cocoa purchasing clerks have been accused of cheating farmers by illegally adjusting weighing scales to the disadvantage of…
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COCOBOD likely to announce 21% increase in farmgate price
The Ghana Cocoa Board is expected to announce a 21 percent increase in the farmgate price for the upcoming 2020/2021 crop season. Farmgate price is the price COCOBOD pays to farmers for their beans. If the price increase takes effect, Cocoa farmers will then be receiving GHS625 or $108 dollars per 64-kilogram bag, or GHS10,000…
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Living Income Differential is being applied without any issues – COCOBOD PRO
The Public Affairs Manager of the Ghana Cocoa Board (COCOBOD) Fiifi Boafo, has downplayed reports that chocolate makers around the world are finding ways of offsetting the cost imposed by the recently introduced living income differential (LID) on cocoa sales for the 2020/21 season. The 400 dollar-per-tonne ‘living income differential‘ was introduced in July of…