Original Story Published by: Etsey Atisu, face2faceafrica.com
Photo Source: Medical New Today
The world’s top producers of cocoa, Ghana and Cote d’Ivoire have jointly suspended the global sale of cocoa beans until farmers get a fair price.
This was announced in Accra by the two countries to a gathering of about 300 stakeholders in the cocoa value chain, comprising, traders, processors and chocolate manufacturers, reports stakeholders to adopt a floor price for the soft crop.
Currently, the producer price of cocoa stands at US$1,808 per tonne in the face of the free fall of the commodity in the international market.
The decision is as a result of the fact that the international market price is a few dollars lower than what is being given to cocoa farmers, forcing the governments of these countries to resort to borrowing in order to settle local farmer.
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