Ghana and Cote d’Ivoire set $400 as fixed income for cocoa farmers

Ghana and Cote d’Ivoire set $400 as fixed income for cocoa farmers

- Ghana and Cote d'voire have revealed the basic price they are willing to offer cocoa for sale

- The two nations have set the price of a tonne of cocoa at $400

- This was communicated via a joint statement released by both nations understands that Ghana and Cote d’Ivoire have set the floor price of cocoa per tonne for both countries at $400.

The price is set to be the Living Income Differential to guarantee the basic price of cocoa in both nations.

Information available suggests that the figure was communicated by both countries and it is expected to provide a remuneration price for the cocoa farmers.

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Per a report, the industry players clearly understood the mechanism as it was introduced to them.

A joint statement revealed “this system takes into consideration a fixed living income differential which would provide farmers a decent income.”

In an earlier report, Ghana and Cote d’Ivoire decided to take the logical step of leveraging their position to demand what they believe to be the fair prices for their cocoa.

On Wednesday, June 12, 2019, Ghana and Cote d’Ivoire announced in a joint statement that they had won concessions from stakeholders in the cocoa industry.

Meanwhile, the majority leader and minister of parliamentary affairs, has asked Ghanaians to see politicians as individuals who seek to make returns on their campaign investments and not as people who are responsible for giving out free things.

In his opinion, the biggest problem within the Ghanaian political system is a situation where constituents decide to overly rely on legislators for their basic needs.

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Source: Yen

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