Ghana and Cote d’Ivoire have established a permanent office to spearhead the interests of cocoa farmers.
The move is to build a vibrant cocoa sector to guarantee the income of cocoa farmers in the two countries.
President Akufo-Addo at the commissioning and official handing over of the Cote d’Ivoire-Ghana Cocoa Initiative secretariat building in Accra, said it is a major step in promoting effective economic development between the two countries.
The world cocoa market is characterized by pronounced volatility and a decline in prices in real terms of about 2% per year over the last half century.
Over the same period, value creation has been concentrated in the downstream segments of the market.
The differentiation of processed products has led to a relative stability of final prices, with a consequent decline in the price received by the producer as a percentage of the final price, now estimated at 5%.
The vision of CIGCI is to transform the current cocoa sector into a prosperous and sustainable one in line with the common ambition shared by most operators to provide decent wages to cocoa producers, contribute to the protection of forests and biodiversity, and be exemplary in terms of fundamental social and human rights.
Ghana and Cote d’Ivoire, are responsible for 65% of the world’s cocoa, and the initiative is expected to build a vibrant cocoa sectors and to guarantee the income of cocoa farmers.
Prime Minister of of Cote d’Ivoire Robert Mambé, who represented the President of Cote d’Ivoire, Alassane Ouattara, said Côte d’Ivoire is ready to work with Ghana to ensure that cocoa farmers in the two West African States reap the full benefits of their labour.
Minister for Food and Agriculture, Dr Bryan Acheampong, noted that the Côte d’Ivoire-Ghana cocoa initiative is a clear example of how cooperation between the two countries can overcome many challenges for the benefit of their people.
The main objectives among others are to achieve remunerative prices and improve the livelihoods of cocoa farmers. To process, promote, and enhance consumption and utilization of cocoa to promote, foster, and defend the common interest of member countries in the international cocoa market and at all relevant international fora.
By Nana Kwaku Aduah