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...
COCOBOD, from October, 2022 will begin the issuance of electronic cash to farmers for all cocoa purchases, Deputy Chief Executive Officer of COCOBOD, Dr. Emmanuel Opoku has said.
Currently, COCOBOD buys all cocoa with physical cash from farmers across the country, but the trend of paying hard cash to farmers...
…. signs US$1.5bn financial agreement with 28 banks
The Ghana Cocoa Board (COCOBOD) has signed a US$1.5billion financial agreement with a consortium of foreign and local banks to finance the purchase of cocoa beans for the 2021/2022 crop season.
This season’s financial agreement is an increase of US$200million compared to the...
seeks US$1.5bn for the 2021/2022 season
The Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo, has indicated that despite the dreadful impact of COVID-19 on economic activities, cocoa production for the 2020/2021 crop season far exceeded its projected target - rendering the syndicated loan secured for the crop...
The amount of US$1,569,839 (GH¢7,294,572) budget that was released into COCOBOD’s Farmers’ Wards Scholarship Trust Fund for two academic years, 2017/2018 and 2018/2019 has been misapplied, the 2020 Auditor General’s (AG) report has revealed.
The 2017/18 and 2018/19 Parliament approved budgets for assessment of the syndicated loan, which showed that...
Stakeholders in the Ghanaian chocolate industry have said the euphoria surrounding a new production record of 1.03 million metric tonnes (MT) of cocoa beans by COCOBOD for the 2020/2021 crop season, would further overshadow campaigns for value addition to the commodity.
The absence of a clearer approach and roadmap to...
…IMF wants it added to public debt
The Ghana Cocoa Board (COCOBOD) is currently exploring options to refinance its debt, which was 2.5 percent of GDP at end-2020 and includes a longer-term forex (FX) collateralised loan.
According to the International Monetary Fund’s (IMF) 2021 Article IV report, this has become necessary in...
…produces 1,033,132.19 metric tonnes for the 2020/2021 crop season
Ghana has achieved a new cocoa production record of 1,033,132.19 metric tonnes for the 2020/2021 crop season – beating a 10 year-record production of 1,024,000 metric tonnes in the 2010/2011 crop season, COCOBOD has announced.
With about six weeks to end the...
The two-world leading producers of cocoa, Ghana and Cote d’Ivoire have agreed to the establishment of an office, in Ghana, responsible for the implementation of the Living Income Differential (LID), a major cocoa initiative aimed at addressing the poor living conditions among cocoa farmers.
The signing of the bilateral agreement...