Obed Owusu Addai, Co-Convenor of the Ghana Civil Society Cocoa Platform
The Ghana Civil Society Cocoa Platform has called on the government to revise its cocoa marketing strategies to ensure farmers benefit from rising global cocoa prices.
Recent market highs, driven by increased fund investments and concerns over dry weather in West Africa, have pushed New York and London cocoa prices to notable peaks.
Ghana has responded by raising the cocoa producer price from GH¢3,000 to GH¢3,100 per 64 kg bag. However, Co-Convenor Obed Owusu Addai emphasized the need for COCOBOD to adapt its strategies, citing a global production decline and potential market shortages.
While Ghana’s regulated market provides price stability through forward sales contracts, Addai stressed the importance of leveraging current trends to optimize gains for farmers amidst declining productivity in major cocoa-producing regions.
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