be a Licensed Buying Company (LBC) and must have participated in the internal marketing of cocoa for a minimum period of two cocoa crop years. · have purchase a minimum of 10,000 tonnes of cocoa per year over the immediately preceding two consecutive crop years. · have personnel who posses the relevant technical know- …
How is cocoa sold in Ghana?
Cocoa is the chief agricultural export of Ghana and Ghana’s main cash crop. … All cocoa, except that which is smuggled out of the country, is sold at fixed prices to the Cocoa Marketing Board.
What is the price of cocoa in Ghana?
Ghana’s president, Nana Addo Dankwa Akufo-Addo announced a new producer price for cocoa for the 2020/2021 crop season. The new producer price is pegged at GHC10,560 per metric tonne of cocoa indicating that a bag of cocoa is now GHC660. The current price per 64kg bag of cocoa is GHC514.
Is Ghana still exporting cocoa?
Ghana, the world’s second largest exporter of cocoa, is Switzerland’s closest trading partner in Sub-Saharan Africa, with the two having establishedreasonably close ties over many decades. … The overwhelming majority was led by Gold but the export value of Cocoa to the Swiss was still USD66.
Why is cocoa important to Ghana?
“Cocoa is a major source of foreign exchange for Ghana and foreign exchange is good for the country. Also, cocoa money is used for hospitals and roads for the benefit of the country. Cocoa is the backbone of the Ghanaian economy.” (Male FGD participants, Western Region).
How much do cocoa farmers get paid in Ghana?
Cocoa farmers in Ghana make $1/day, while those in Côte d’Ivoire make around $0.78/day—both significantly below the extreme poverty line. Farmers are often unable to bear the costs of cocoa farming as a result of low incomes.
Does Ghana process cocoa?
Ghana has traditionally exported almost its entire crop of cocoa beans for processing to foreign chocolate production plants. Cocoa makes up 30% of Ghana’s total exports. … In January 2009, the new government formulated a policy to process at least 60% of cocoa that is grown locally.
How many tonnes of cocoa does Ghana produce?
In 2019/2020, Ghana is estimated to have produced about 800 thousand tons of cocoa beans, a decrease from approximately 812 thousand tons in 2018/2019.
How much is a kilo of cocoa in Ghana?
Ghana Cocoa Beans Prices
Prior to 2019, one kg of cocoa beans was going for US$2.86 in 2017 and US$2.89 in 2018. In 2019 the export price changed to $2.88 per kilo, by -0.40119463%.
How much is a kilo of cocoa?
In the 2020, the price per kilogram of cocoa was 2.37 U.S. dollars.
World cocoa price from 2008 to 2020 (in U.S. dollars per kilogram)
|Characteristic||Cocoa price in U.S. dollars per kilogram|
What is the price of a ton of cocoa?
Monthly cocoa price worldwide 2016-2020
Between 2016 and 2019, the monthly price of cocoa worldwide peaked in mid-2016 at about 3,122 U.S. dollars per metric ton and has since declined to around 2,134 U.S. dollars per metric ton as of October 2018.
What is the weight of a bag of cocoa in Ghana?
Since then, it has remained unchanged at GH¢7,600 per tonne, translating into GH¢475 per bag of 64 kilogrammes (kg) gross weight. In 2018/2019, Ghana is estimated to have produced about 900,000 tons of cocoa beans, a decrease from approximately 969 thousand tons in 2016/2017.
How many cocoa trees can be planted in an acre?
Plant at a spacing of 3.0m x 3.0m or 10ft x 10ft if you are using hybrid cocoa seedlings. In this case, you will have 1,111 tree per hectare or 435 trees per acre. Proper spacing allows for less competition for space, sunlight, water and nutrients and so the trees look healthy and high yielding.
How much are cocoa beans per pound?
One pound is about $16.00 and 5 lbs would be $80.00. In this 5 lbs there would be 3.5 lb of Criollo or Trinatario cocoa beans.