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Ghana’s COCOBOD to open light purchases priced at $1,407/tonne

Ghana’s Cocobod is expected to open its cocoa light crop purchases on Friday (June 21, 2019).

Cocoa beans

Cocobod has however indicated that it is maintaining the price it pays farmers at GHC7,600 ($1,407) per tonne.

Ghana which is the second largest cocoa exporter after her neighbouring country, Ivory Coast has a two-cycle cocoa season. These two are the main crop season which is mainly exported and the light crop harvest, discounted for local grinders.

According to a statement from Cocobod, the producer price will be GHC228 for a 30kg bag, GHC475 for a 64kg bag, and a tonne in 16 bags equalling GHC7,600.

The light crop usually lasts for 11 weeks.

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Ghana and top grower Ivory Coast are trying to use their market dominance to get international buyers to pay a higher price for their cocoa.

This step taken by both countries has not happened over the years due to the oversupply of cocoa products in the last few years.

On Wednesday (June 12, 2019) buyers agreed to their demand of $2,600 per tonne.

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