Ghana and Cote d’Ivoire have reached an agreement to stop the sale of cocoa in the world market from 2020/2021 season in order to get higher prices for cocoa.
The two top cocoa producing West African countries have been holding a two-day discussion in Accra to look for ways to ensure maximum benefits from the world trade of cocoa.
They are now proposing that cocoa be sold at $2,600 on the world market, to enable farmers get value for their sweat, or they would refuse to sell their cocoa beans.
Ghana and Cote d’Ivoire are on record not only to be the highest producers of cocoa, but have quality cocoa beans.
The Daily Graphic and Ghanaian Times have confirmed that a joint committee meeting between the two countries reached the decision in Accra on Tuesday, adding that the two would implement their decision for the 2020/2021 crop season.
It is on record that Ghana and Cote d’Ivoire produce 65 percent of the total world cocoa production annually.
The move is to ensure that the two countries have a say in the determination of world price of cocoa, which is currently hovering around $2,500 per tonne.
DAP/GIK/APA