The Deputy Chief Executive Officer of the Ghana COCOBOD, James Kofi Kutsoati, has praised Olam Ghana Ltd, one of the country’s leading Licensed Buying Companies (LBCs,) for its contribution to the cocoa sub-sector of the economy. The company, which was established in 1994, has made over US$150 million worth of investment into the cocoa sector, … Read more
Ghana is set to experience another shortfall of about 130,000 metric tonnes in cocoa beans for the 2015/2016 crop season when the light crop season ends this month, Business Finder has learnt. The country will bag about 720,000 metric tonnes of cocoa production against a target of 850,000 metric tonnes. This paper gathered that the … Read more
The value of merchandise exports for January to September 2015 was estimated at $ 7,750.8 million but decreased by $2,312.1 million, Mr Seth Terkper, Minister of Finance, said on Friday. Presenting the 2016 budget statement to parliament the Minister said the decline represented 23 per cent as compared to the exports value of $10,062.9 million … Read more
Cocoa Processing Company Limited (CPC) says most of the structural challenges facing it have been resolved, as the company prepares to break into the West African sub-regional market. “Arrangements are almost complete to commence from the Nigerian Market…The expansion of the local market is currently being pursued by recruitment of suitable key distributors in the … Read more
The over 41% dip in the value of Ghana’s currency, the cedi, this year has caused many Ghanaian cocoa farmers to smuggle their beans to Ivory Coast where they can get 58% more in dollar terms for their cocoa beans according to report released by the pan-African bank, Ecobank. The drop in the cedi, Ghana’s … Read more
Cocoa bean farmers are at the bottom of a global supply chain that stands “firmly against [them].” Because the traders, processors, exporters and manufacturers all sit above farmers on that chain and demand a profit margin, farmers have little bargaining power and receive the bare minimum for their product. N’Da Alphonse, the first farmer to … Read more