The Ghana Cocoa Board (COCOBOD) is to collaborate with its counterpart in Cote d\u2019Ivoire, the Caf\u00e9-Cacao Conseil, to manage the trading of cocoa on the international market.<\/p>\n
The collaboration is to help regulate the quantity of cocoa beans that is sent to the market by both countries, in a bid to cushion farmers against falling global prices.<\/p>\n
\n
The Chief Executive Officer of COCOBOD, Mr Joseph Boahen Aidoo, explained that although local farmers would be supported to increase their production, the two countries would manage the stock to be able to influence prices on the world market.<\/p>\n
<\/p>\n
\u201cGhana and Cote d\u2019Ivoire have different systems of trading. We don\u2019t have a common trading system so anytime Ghana goes to the market, Cote d\u2019Ivoire is also there with its produce. We should be able to arrange when to go to the market and then we will be able to manage our produce and the price,\u201d he told the Daily Graphic after the end of the second meeting of the Ghana-Cote d\u2019Ivoire Technical Co-operation on Cocoa in Accra.<\/p>\n
<\/p>\n
He said the fluctuating prices of cocoa was a demand, supply and price-related mechanism and as such once the two countries – which controlled about 60 per cent of the world production – were able to manage the stock, farmers could enjoy relative price stability.<\/p>\n
<\/p>\n
\u201cIf we say we are going to control it, then it will look like a cartel, and on the world market that is not allowed. What we can do as Ghana and Cote d\u2019Ivoire is to manage our stock. Once we are able to manage the stock, the price itself will find the level,\u201d he added.<\/p>\n
<\/p>\n
Increased production<\/strong><\/p>\n
<\/p>\n
At the local level, Mr Aidoo said, COCOBOD was going to assist farmers in increasing their production per hectare.<\/p>\n
<\/p>\n
\u201cWe are going to increase production. Already our farmers are not producing enough per hectare; so we are going to assist them in increasing their production per hectare. We cannot stop the farmers from producing, all we can do is to manage the market,\u201d he said.\u00a0<\/p>\n
<\/p>\n
He gave an assurance that conclusions reached at the meeting would be followed to ensure that cocoa farmers of both countries were protected from the harsh effects of falling prices and also to ensure sustainable production.<\/p>\n
<\/p>\n
Technical meeting<\/strong><\/p>\n
<\/p>\n
Although the agreements reached at the meeting were not made available to the media, Mr Aidoo said the two countries made conclusions on how to increase production and manage cocoa producer price and smuggling of the product.<\/p>\n
<\/p>\n
The two-day meeting organised under the auspices of the COCOBOD brought together officials from Ghana and Cote d\u2019Ivoire to devise strategies for mitigating the harsh effects of declining cocoa prices on farmers.<\/p>\n
<\/p>\n
The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, commended the technical committee members for the work done over the two days and expressed the hope that follow-ups would be done on the recommendations.<\/p>\n
<\/p>\n
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The Ghana Cocoa Board (COCOBOD) is to collaborate with its counterpart in Cote d\u2019Ivoire, the Caf\u00e9-Cacao Conseil, to manage the trading of cocoa on the international market.
The collaboration is to help regulate the quantity of cocoa beans that is sent to the market by both countries, in a bid to cushion farmers against […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-394569","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n
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The collaboration is to help regulate the quantity of cocoa beans that is sent to the market by both countries, in a bid to cushion farmers against […]","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/"},"author":{"name":"","@id":""},"headline":"Ghana, Cote d\u2019Ivoire collaborate to control prices of cocoa","datePublished":"2017-06-06T14:41:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/"},"wordCount":501,"commentCount":0,"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/","url":"https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/","name":"Ghana, Cote d\u2019Ivoire collaborate to control prices of cocoa - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/#website"},"datePublished":"2017-06-06T14:41:13+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2017\/06\/06\/ghana-cote-divoire-collaborate-to-control-prices-of-cocoa\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2017\/#website","url":"https:\/\/www.ghanamma.com\/2017\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2017\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/394569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/comments?post=394569"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/394569\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/media?parent=394569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/categories?post=394569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/tags?post=394569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}