Ghana and Cote d’Ivoire will, for the first time, jointly announce the price of cocoa for the 2018/2019 crop season in October this year.
The move comes on the back of an agreement between the two countries to set a floor price for cocoa on the global commodity market, below which neither of the two countries will sell its produce.
Addressing the media in Accra via telephone after the signing of the syndicated loan agreement, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Mr Joseph Boahen Aidoo, said the historic event would come off on October 1, 2018.
“We have been in joint collaboration with them. We want to be able to control the prices of cocoa on the international market and also reduce smuggling across the border as much as possible,” he stated.
Aciton plan
The move forms part of 12 action points the two countries agreed to implement at the end of a two-day meeting to help enhance the benefits that they derive from the production of the cash crop.
Another key action point is the adoption of a concurrent opening season and announcement of producer prices to be paid to farmers in the two countries.
The initiatives are the first of their kind by the two countries, who have, for decades, supplied more than 60 per cent of the world's cocoa output.
It is aimed at uniting their fronts in a bid to present a common voice on matters of cocoa on the international market.
The action points were contained in a communiqué issued in Accra after a two-day meeting between officials of the Ghana Cocoa Board (COCOBOD) and the Le Couseil du Café-Cacao of Cote d’Ivoire.
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https://www.myjoyonline.com/business/2018/September-27th/ghana-cote-divoire-to-announce-floor-price-for-cocoa-on-oct-1.php
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