Ghana and Cote d’Ivoire producce more than 65 per cent of the world’s cocoa beans
Ghana and Cote d’Ivoire have struck a deal with stakeholders in the cocoa value chain to peg the minimum price for a tonne of cocoa at $2600 for the 2020/2021 crop season.
The two countries, which supply more than 65 per cent of the world’s cocoa beans, earlier made the proposal on Tuesday.
A technical committee is expected to meet on July 7th, 2019 in Cote D’Ivoire on the road map for full implementation of the deal.
Ghana and Cote d’Ivoire had resolved not to sell their cocoa on the international market if they fail to obtain the proposed price for the produce.
Earlier Vice President Dr Mahamudu Bawumia underscored the government’s commitment to improving the living standards of cocoa farmers by ensuring they receive greater benefits for their toil.
Dr Bawumia urged stakeholders in the cocoa value chain, including Trade Houses, Cocoa Processors and Chocolate Manufacturers, to join the governments of Ghana and Cote d’Ivoire to address the high-income disparity between farmers and the end users of cocoa products.
The two countries are co-operating to tackle common challenges in the production and marketing of cocoa, and to create a conducive platform for effective engagement with traders, processors, manufacturers, and retailers on all relevant issues of mutual interest, including farmers’ income.