Ghana’s Cocoa Farmers Lament Low Earnings Amid High Prices
Though global cocoa prices have soared to a record high in April, farmers in Ghana are struggling to make ends meet. The government’s local pricing system has left many cocoa….
Tag: Cocoa
COCOBOD Confirms Plans To Increase Cocoa Farmgate Prices
The Ghana COCOBOD has told Joy Business government is considering an increase in the farmgate prices of cocoa beans for farmers. The decision, which is currently being deliberated upon by stakeholders in….
Ivory Coast To Raise Cocoa Farmgate Price By 50%
Ivory Coast’s President Alassane Ouattara will increase the official cocoa farmgate price to 1,500 CFA francs ($2.47) per kg from Tuesday, April 2, from the current 1,000 CFA, sources at….
Ghana’s Gross Reserves Surge By 9.9% To $4.06 Billion In Early 2024
In the initial two months of 2024, Ghana’s Gross International Reserves (GIR), excluding Encumbered Assets and Petroleum Fund, experienced a notable 9.99% increase, reaching $4.02 billion by February 2024. This….
Commodity Prices To Broadly Stabilise In 2024, But Cocoa, Coffee Prices To Increase – EIU
After three years of extreme volatility, commodities prices are set to broadly stabilise in 2024. According to the Economist Intelligence Unit Commodities Outlook 2024, this apparent stasis may come as….
Cocoa Shortage Forces Shutdown Of Ghana Cocoa Processors
Some cocoa processors in Ghana are said to have halted operations due to an acute shortage of cocoa beans, Cocoa Post has disclosed. According to the report, a source close….
Syndicated Loan Drag, Ghana Borrows Up To $200 Million From Cocoa Traders To Plug Funding Gap
Ghana’s Cocobod is facing delays in securing its usual syndicated loans and has opted to borrow between $150 million to $200 million from cocoa traders to partially finance bean purchases….
Ivory Coast In Fresh Stand-Off With Cocoa Buyers Over Premium
Ivory Coast is struggling to sell cocoa export contracts for the 2024/25 season with multinational companies demanding it lower prices, which are elevated due to a supply squeeze, the head….
World Cocoa Price Soars To Highest In 44 Years
Cocoa surged to the highest level in 44 years as global shortages boost costs for chocolate makers. Futures traded in New York jumped as much as 2.5% to the highest….
Ivory Coast Sets 2023/24 Cocoa Farmgate Price At 1,000 FCFA
Ivory Coast has increased its cocoa farmgate price by 11.1% from 900FCFA to 1,000FCFA ($1.62) per kilogram for the 2023/24 crop season. The minister for agriculture and rural development, Kobenan….