[ad_1]
Company News from Tuesday, June 11, 2019
Source: Graphic.com.gh
2019-06-11
Photo File – Cocoa
Ghana and Ivory Coast propose that buyers of cocoa beans pay a minimum of USD 2,600 for each tonne of cocoa produced in both countries.
The USD 2,600 represents the floor price proposed by the two countries, which represent 65% of global cocoa supplies, offered to stakeholders in the value chain.
Graphic Online understands that both countries want to insist that neither market their products on the global cocoa market if the price per ton falls below the $ 2,600 mark.
It was proposed to about 300 representatives of cocoa buyers, traders, processors and other sector players at a two-day stakeholder meeting in Accra.
Once accepted and adopted, the amount will be the floor price to be set by the two major producers, thus ending the secular price structure that makes cocoa farmers price takers.
An official decision on the floor price is expected to be announced on Wednesday, June 12, 2019, according to sources from Graphic Online.
It is understood that the proposal could be adopted in its raw form or modified according to the results of the ongoing negotiations between the managers of the two main cocoa producers and stakeholders in the value chain.
The International Cocoa Organization has quoted the price of one ton of cocoa at US $ 2,436.08 at the close of business on Monday, June 10.
Source link
