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The two-day meeting, convened by Presidents Akufo-Addo and Albadane Ouattara, respectively of Ghana and Ivory Coast, agreed to host another meeting on July 3 in Abidjan in order to facilitate the meeting. refine the implementation modalities of the proposed floor. price.
The floor price is the minimum price below which a producer will not sell his beans to a merchant.
The product sells for just over $ 2,500 per ton currently on the market.
Joseph Boahen Aidoo, President and CEO of the Ghana Cocoa Board (COCOBOD), who announced the outcome of the deliberations, announced that the proposed floor price would result in the sale of cocoa beans in Ghana and Côte d 'Ivoire, for the 2020/2021 campaign has been suspended.
Cocoa produced from both countries accounts for 65% of world production.
"A proposed floor price of $ 2,600 was accepted in principle by all stakeholders. Nevertheless, processors, manufacturers and traders have requested a technical meeting to refine the mechanism for implementing the recommended floor price. It was agreed that a technical meeting would be held on 3 July 2019 in Abidjan to refine the modalities for implementing the floor price.
"It was also agreed that sustainability issues related to traceability, to the involvement of child labor, although important, be dissociated from the floor price and discussed at another forum" , did he declare.
Mr. Aidoo revealed that the price floor determination required numerous calculations. According to him, such issues as tillage, planting, plant maintenance, weeding, pruning, fertilization, spraying, the cost of transporting beans from the farm to the house for drying and the margin for buyers, among others.
Ghana produces about 900 000 tonnes a year and Côte d'Ivoire about 2 million tonnes.
The Abidjan Declaration, elaborated by Ghana and Côte d'Ivoire, aims to find a lasting solution to improve the prices obtained by cocoa producers in their respective countries.
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