In a bid to champion the interests of cocoa farmers, Ghana and Cote d’Ivoire have inaugurated a permanent office dedicated to the cocoa sector.
The primary objective of this initiative is to enhance the cocoa industry and ensure that cocoa farmers in both countries receive sustainable income.
During the commissioning and official handover of the Cote d’Ivoire-Ghana Cocoa Initiative secretariat building in Accra, President Akufo-Addo emphasized the significance of this collaboration in fostering economic development between the two West African nations.
The global cocoa market has been marred by volatility and a consistent decrease in real prices by approximately 2% annually over the past fifty years. This has led to a concentration of value creation in downstream segments, resulting in a decline in the percentage of final price received by producers, estimated to be at 5%.
The CIGCI aims to revolutionize the existing cocoa sector into a prosperous and sustainable industry, aligning with the mutual goal of providing fair wages to cocoa producers, preserving forests and biodiversity, and upholding fundamental social and human rights standards.
Ghana and Cote d’Ivoire jointly account for 65% of the world’s cocoa production, making this initiative crucial in ensuring the livelihoods of cocoa farmers.
In a statement, the Prime Minister of Cote d’Ivoire, Robert Mambé, reiterated the commitment of Cote d’Ivoire to collaborate with Ghana in securing the welfare of cocoa farmers in the region.
Dr. Bryan Acheampong, Minister for Food and Agriculture, hailed the Côte d’Ivoire-Ghana cocoa initiative as a model for cooperation between the two nations to address various challenges for the betterment of their citizens.
Among the primary goals of the initiative are to secure profitable prices for cocoa farmers, enhance their livelihoods, promote cocoa processing and consumption, and defend the common interests of member countries in the global cocoa market and at international platforms.
