Ghana's President Nana Addo Dankwa Akufo-Addo has taken the boldest economic step in recent memory by announcing that Ghana will no longer export raw cocoa to Switzerland – and, perhaps, other western countries. Rather, the world’s second-largest producer of cocoa will increase cocoa processing and chocolate production for export.
Switzerland...
Blame unfair income
Uncompetitive cocoa prices on the international market is forcing cocoa farmers in gold-producing areas to sell farmlands for illegal mining activities, the Ghana Civil-society Cocoa Platform (GCCP) has said.
The situation is rather disturbing, given cocoa has been the main cash crop that has been the backbone...
The global cocoa market experienced a surge in prices during April 2023, reaching a six-year high in both the London and New York markets, according to the April 2023 cocoa report by the International Cocoa Organization (ICCO).
Prices of the front-month cocoa futures contract rose by 5 percent in...
As Ivory Coast prepares to collect a record cocoa crop, the market is bracing for two key unknowns: the risk of political unrest disrupting supplies and the demand hit from COVID-19.
Bigger crops in West Africa would add to a global surplus at a time when consumption is under pressure...
Cocoa prices are anticipated to move downward in major markets across the globe, as merchants and producers increased net selling positions over the Q1 of 2022/2023 crop season, data from the International Cocoa Organisation (ICCO) have shown.
The global cocoa market attained a value of nearly US$14.5billion in 2022. The...
Cocoa producers have emerged as the driving force behind cocoa market premiums as they continue to reap the benefits of a supply crunch, according to the latest International Cocoa Organisation (ICCO)cocoa market report released this month.
The ICCO's report highlights significant differentials in cocoa prices, emphasising that producers are currently...
The issue of Cocoa Produce Buying Companies (PBCs) adjusting their scales to cheat cocoa farmers of their due is not only sad but unconscionable.
A private broadcasting station’s latest investigative documentary ‘Missing Kilos’ exposed the stealing of cocoa beans by clerks in licenced cocoa buying companies of the country. The...
It was just three years ago that Mr Emmanuel Eyisi, a member of Cooperative Cocoa Farmers and Marketing Union (CCP) in the Suhum Kraboa Coaltar District had his six-acre cocoa farm ravaged by indiscriminate bush fires.
He had invested all his resources and his cocoa trees had pods nearing maturity...
COCOBOD has announced that it has received commitment from its trade partners to pay the US$400 Living Income Differential (LID) to farmers for the 2021/2022 cocoa crop season.
The LID was an initiative pushed by Ghana and La Cote d’Ivoire to set aside a fixed amount of US$400 solely for...