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The governments of Ghana and Côte d'Ivoire expressed their willingness on Tuesday to unite for the establishment of a common floor price and a fair income for cocoa farmers to address the disparity high income in the cocoa value chain.
Vice President Mahamudu Bawumia, speaking in Accra on Tuesday, said the two countries, which account for 65 percent of the world's cocoa production, should cooperate with the cocoa sector on sustainable incomes. address common challenges in the production and marketing of cocoa.
This decision, he said, would enhance the efficiency of the domestic cocoa supply chain in the supply chain, alleviate poverty and ensure good living conditions among small cocoa producers.
The Fair Trade 2017 data suggest a living income of about $ 6,133 per year or $ 511.08 per month. For an average household of six to eight, he proposed a daily income of between $ 2.63 and $ 2.12.
The same source suggested that the per capita daily income of Ivorian cocoa producers was USD 0.93, while their Ghanaian counterparts earned between USD 0.40 and 0.45 worth of cocoa, which is almost two-thirds of the income. of their household.
Vice President Bawumia therefore urged forum participants to pledge to help resolve calls to ensure a livelihood for farmers beyond the poverty line.
"We need to develop a program and a road map to meet this challenge and we hope to reach consensus on this issue," he said.
The two-day meeting is organized at the request of Ghana's President Albadane Ouattara and Ghana's President Nana Addo Dankwa Akufo-Addo, who have attracted key players, including policymakers, government officials, smallholders, traders and business people. cocoa processors. , manufacturers and retailers.
The Ghana Cocoa Council and the Côte d'Ivoire Coffee and Cocoa Council are leading the debate on proposals for a common price floor mechanism to address the disparity between high incomes in the coffee chain. value of cocoa.
Inspired by the creation of the oil producing countries (OPEC), Vice President Bawumia felt that it would not be inappropriate to train cocoa producing countries (COPEC) to defend the interests of the producing countries of cocoa.
He noted that a good price for cocoa beans would go a long way in complementing government investments in rural infrastructure and improving the welfare of cocoa growing communities.
He added that the Government and COCOBOD had taken measures to improve the conditions of cocoa farmers by implementing various interventions aimed at improving agricultural productivity, preserving the ecosystem and discouraging work practices that were contrary to l & # 39; ethics. improve the standard of living of cocoa farmers.
"Confidence in the Ghanaian economy is very high. Strong macroeconomic performance and promising prospects have been approved by the capital markets in our recent Eurobond issue.
"Foreign direct investment has remained above $ 3 billion a year since 2011 and we look forward to welcoming more investment," added the vice president.
The Vice President said that the Ghanaian economy had performed satisfactorily in recent years, which had helped to reduce overall rural poverty, with budget deficits such as the lending rate and inflation being on the rise. way of reduction.
Mr. Joseph Boahen Aidoo, Executive Director of the Ghana Cocoa Board, said in his welcoming remarks that the discussion would help strike the right balance between sustainable cocoa production and a reasonable minimum income for small-scale cocoa farmers.
He estimated that a fair livelihood income would allow cocoa farmers to cope with their costs of production, to meet the daily needs of their households and to invest some of the money in a pension funds.
The world's cocoa economy is estimated at $ 100 billion a year, but Ghana and Côte d'Ivoire, which produce 65% of world production, receive only about $ 4 billion a year.
It is on this basis that the two largest producers of the commodity declared in 2018 in Côte d'Ivoire that a bilateral partnership should play a more important role in determining cocoa prices.
This aims to ensure that the cocoa value chain benefits smallholders, alleviates poverty and eliminates unethical work practices in the industry.
Source: GNA
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