(Ecofin Agency) - Côte d’Ivoire and Ghana will adopt a common policy on the volume and timing of cocoa exports for the 2019/2020 season. Joseph Aidoo, head of Cocobod, told Reuters.
This strategy aims to discharge the global market and boost cocoa world prices which dropped by 40% in 2017, significantly affecting the two countries.
“The price of cocoa is not decided by us producers. We must change this situation,” Mr. Aidoo said.
Moreover, Reuters indicated that the two countries have agreed to harmonize sales systems and renew infected and unproductive cocoa plantings. Therefore, while Ghana will uproot 400,000 hectares of cocoa infected by Swollen Shoot, Côte d'Ivoire will focus on 300,000 hectares.
Let’s note that both countries supply 60% of global cocoa stock.