In an attempt to attract high prices for cocoa on the international market, the Ghana Cocoa Board (COCOBOD) and its counterparts in other cocoa producing countries, have agreed to increase annual output of the commodity within the next couple of years while improving local consumption.
This is to ensure that the quantum of the commodity that is exported to the international market is reduced to warrant an appreciation in the price.
According to Dr Yaw Adu Amponsah, Deputy CEO of COCOBOD, who explained the move to journalists in Accra, the regulator of the cocoa industry was stepping up efforts to engage cocoa companies, as well as government agencies associated with cocoa consumption, to promote local consumption of the commodity.
He indicated that all members of the Alliance of Cocoa Producing Countries (COPAL) had resolved to get the best price for the commodity on the world market henceforth. Read more….