{"id":1213945,"date":"2022-09-30T11:37:47","date_gmt":"2022-09-30T11:37:47","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/30\/illegal-mining-lack-of-fertilisers-risk-undercutting-2022-2023-cocoa-yields-in-ghana-redd-intelligence\/"},"modified":"2022-09-30T11:37:47","modified_gmt":"2022-09-30T11:37:47","slug":"illegal-mining-lack-of-fertilisers-risk-undercutting-2022-2023-cocoa-yields-in-ghana-redd-intelligence","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/30\/illegal-mining-lack-of-fertilisers-risk-undercutting-2022-2023-cocoa-yields-in-ghana-redd-intelligence\/","title":{"rendered":"Illegal mining, lack of fertilisers risk undercutting 2022\/2023 cocoa yields in Ghana \u2013 Redd Intelligence"},"content":{"rendered":"

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Illegal gold mining, bad farming practices and lack of fertilisers for cocoa farmers in West Africa, risk undercutting next year\u2019s cocoa yields in Ghana and to some extent Cote D\u2019Ivoire, Singapore-based Redd Intelligence has warned.<\/p>\n

In its analysis of Ghana\u2019s cocoa sector, it said the war in Ukraine has limited Russian exports of fertilisers worldwide, including potash.<\/p>\n

\u201cNo one can afford fertiliser as it costs at least twice what it did last year. \u201cThere will be a lower crop next year which will weigh on the minds of [all lenders] putting money into the market.\u201d<\/p>\n

\u201cWhile rainfalls have helped the 2021-2022 cocoa crop season in both Ghana and Cote D\u2019Ivoire, the next season does not look so promising as \u201cthe big things we have always been worried about are starting to rise up,\u201d said George.<\/p>\n

These challenges include the destruction of land, bad farming practices, illegal gold mining and climate change.<\/p>\n

Redd Intelligence emphasised that Ghana used to give out free or heavily subsidised fertilisers to license-buying companies, but this has reduced over the years due to increased fraud and costs.<\/p>\n

\u201cAs such, cocoa farmers in Ghana are demanding a 30% increase in price for the 2022-2023 season\u201d, it added.<\/p>\n

Another issue on the horizon, particularly for exporters, is the EU\u2019s proposed carbon border adjustment mechanism (CBAM), initially published in July last year. The core element of the CBAM is the obligation to pay for greenhouse gas emissions embedded in certain carbon-intensive products imported into the EU through the purchase of so-called CBAM certificates.<\/p>\n

However, while the proposed mechanism was initially aimed at the obvious polluting industries such as oil and gas, Redd Intelligence said the EU is now looking at introducing it for the production of chocolate, which is \u201cincredibly high-emitting of CO2.\u201d<\/p>\n

\u201cThis will blow some of the economic models of developing markets completely out the water\u201d, it warned.<\/p>\n

Ghana is the second-biggest cocoa producer in the world, after Cote d\u2019Ivoire, according to the International Cocoa Organization.<\/p>\n

\u00a0The two African nations combined control about 70% of the world\u2019s cocoa market.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Illegal gold mining, bad farming practices and lack of fertilisers for cocoa farmers in West Africa, risk undercutting next year\u2019s cocoa yields in Ghana and to some extent Cote D\u2019Ivoire, Singapore-based Redd Intelligence has warned. In its analysis of Ghana\u2019s cocoa sector, it said the war in Ukraine has limited Russian exports of fertilisers worldwide, […]<\/p>\n","protected":false},"author":1,"featured_media":1213946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[181,7655,85,4981,6200,468,3362,26125,425,26650,3575],"class_list":["post-1213945","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-cocoa","tag-fertilisers","tag-ghana","tag-illegal","tag-intelligence","tag-lack","tag-mining","tag-redd","tag-risk","tag-undercutting","tag-yields"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1213945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1213945"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1213945\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1213945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1213945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1213945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}