Business News of Sunday, 19 February 2017
Source: Ghanaian Times
The Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Mr. Joseph Boahen Aidoo has expressed optimism that Ghana can reap huge benefits from its cocoa products by increasing local consumption and the annual output of the product.
According to him, the quantum of cocoa exported to the world market was enormous hence causing volatility in the prices of the cash crop.
He, therefore, called on Ghanaians to patronise more of its cocoa products to enable the country to reduce the quantum its export to reduce stock levels on the world market.
This, he said, would in a long way have a positive impact on the price of cocoa on the international market.
Mr. Aidoo made these statements when he led officials of COCOBOD, Cocoa Research Institute (CRIG) and BD Associate Limited visited some schools here on Tuesday to educate them on the importance of consuming cocoa products.
Mr. Aidoo donated boxes of chocolate and other assorted products to the pupils and teachers of the CRIG Municipal Assembly Primary and Mid-Tafo Presbyterian Primary and Junior High School to commemorate the Chocolate Day celebration.
Mr Aidoo indicated that “cocoa as a stock commodity is very volatile causing the international market to dictate prices hence controlling the country’s pricing of cocoa”
He stressed the need for the country to focus and do more processing locally, improve and expand production to enable it to derive more benefits from it.
“We have to process more than 50 percent of our cocoa to enable us move from a primary to secondary producing country,” he said.
Mr. Aidoo called on Ghanaians to consume more of its cocoa products and take it as a major part of their meal adding that it has several benefits.
“Cocoa, as they say, is food for the gods and it is good for replenishing of the blood and heart and one can get iron and potassium from it. One can also get lots of energy by consuming cocoa products,” he said.
Mr. Aidoo indicated that his outfit and the government were committed to promoting the consumption of cocoa to ensure that the country derives more value from it for economic development.
He revealed that Ghana’s cocoa production had reduced over the past years but indicated that the government would work towards increasing production.