Tag: Cocoa

Market Price: Cocoa Prices Tumble

Prices of cocoa on the international market have begun to tumble due to investors expectations of an imminent increase in production from top growing countries, Côte d’Ivoire and Ghana. Côte d’Ivoire, which is the world’s largest producer, is projecting a production of about 1.9 million tonnes, while Ghana is hopeful of meeting its 850,000 tonnes target for the season, something… Read more →

Ghana Cocoa Board project to empower 20,000 Ghanaian youth

The Ghana Cocoa Board (COCOBOD) says it intends to engage an estimated 20,000 Ghanaian youth this year to pollinate cocoa farms as part of measures to increase yield to meet the production target of one million tonnes. Emmanuel Opoku, Head of Cocoa Health and Extension Service Division of COCOBOD, who made the announcement, said the decline in pollinating insects in… Read more →

Reversing Africa’s cocoa paradox: A new call to action

“What’s the brain surgery in making chocolates? The price of cocoa beans always falls, but never the price of chocolates” – Akinwumi Adesina, President, African Development Bank Around the world, chocolate in all shapes and sizes symbolize Easter and bring joy to millions of kids and adults alike. And the demand for chocolate will most likely continue to increase, according… Read more →

Breakthrough for Ghana’s Cocoa Farmers: First-Time Ownership of Timber Trees

Accra — UN International Day of Forests announcement positions farmers to benefit from agroforestry and contribute to fight against deforestation and climate change Ghana’s Forestry Commission approves tree registration for 150 cocoa farmers near Asankrangwa, in Ghana’s Western Region Shade trees are conducive to a positive cycle of afforestation on cocoa farms For the first time ever in Ghana, cocoa… Read more →

“Cocoa farmers must earn more from their toil” – President Akufo-Addo

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has reiterated the commitment of his government towards ensuring that the country’s farmers reap much greater value from their toil. According to President Akufo-Addo, startling statistics have revealed that, with Ghana and Cote d’Ivoire accounting for more than 60% of the world’s cocoa output, the two countries, together, earned some $5.75… Read more →

International Cocoa Initiative helps farmers eliminate child labour

  Cocoa farmers in the Assin Fosu hub of the International Cocoa Initiative (ICI) have said the international NGO’s support, aimed at improving their livelihoods, while eliminating child labour in their communities, are paying off. The representatives of the farmers told journalists, at a briefing event, that the awareness and educational programmes in their communities had resulted in keeping children… Read more →

COCOBOD borrows $1.3bn for 2017/18 cocoa season

The Ghana Cocoa Board (COCOBOD) has signed an agreement with a number of banks to raise 1.3 billion dollars at an interest rate of 0.65% plus libor rate for the 2017/2018 purchase of cocoa beans. The syndicated loan which was signed in France on September 20, 2017 had 25 banks participating in the transaction. Speaking to journalists via a teleconference after… Read more →

Cocoa Sustainability Programs: Cosmetic or Serious Business?

The recent outrage of the effect of illegal mining in various farming communities across the country has brought to bear, a tacit revelation of how poor cocoa farmers are knowingly burning down their cocoa farms and selling the mineral rich land to illegal miners for a onetime payment. This revelation has led to questions about the existence and effectiveness of… Read more →