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Accra, July 18, GNA – Ghana and Cote d Ivoire
lifted the ban on cocoa sales for the 2020/2021 season, starting from
July 16th.
The decision was contained in a
communiqué issued and signed by Mr. Joseph Boahen Aidoo, Director General of
the Ghana Cocoa Board and the head of the Coffee and Cocoa Organization of Côte d'Ivoire
Council, Yves Koné-Brahima.
The two countries, in a two-day meeting at
Accra in July, announced the suspension to push their application for a floor price
US $ 2,600, accepted by stakeholders.
Ghana and Côte d'Ivoire, among them,
produces more than 60% of world cocoa production and has agreed to
Peasant-to-Livelihood Differential of US $ 400 "on each ton of cocoa
two countries.
The communique says "with a view to
above, the two countries decided to lift the suspension of sales of the
Harvest 2020/2021 as of today, July 16th, "the statement said.
He said that they would legislate the
minimum producer price to be paid to cocoa producers in order to preserve
their income.
Both countries would pay farmers a
guaranteed minimum price of 70% of the floor price of US $ 2,600
tonne.
Farmers would also be entitled to bonuses
payment when the average gross franc price reached on board reached at the end of
the cocoa season is between 2,600 USD (2,700 USD)
Freight (CIF) – 2,900 USD (3,000 USD CIF).
Countries have agreed to create a
stabilization account under the two countries' cocoa initiative and
for in the Charter.
With this in mind, two accounts would be defined.
for each country within the secretariat in Accra where any additional value above
$ 3,000 cif or $ 2,900 gross fob of the weighted average achieved will be
deposit.
GNA
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