Management of Ghana Cocoa Board has assured that it will implement effective measures to ensure that its revenue from the sale of cocoa is not affected by the recent drop in cocoa prices on the international market.
According to the Head of Public Affairs at COCOBOD, Noah Amenyah, stated that the board is implementing a mix of strategies such as slowing down the sale of cocoa when prices tumble.
The price of Cocoa according to the International Cocoa Organization (ICCO) has dropped by about 18 percent in the last 6 weeks from over US 2,700 Dollars on May 1, 2018 to over US 2,300 Dollars as at June 11, 2018.
Speaking to Citi Business News, Mr. Amenyah said COCOBOD is committed to ensuring that revenue from Cocoa is sustained to support government’s revenue mobilization agenda.
“We have seen the price of Cocoa go very low. We have also recently seen the price pick up. So we are still watching the trend. Generally the trend is upward compared to the previous years. This means that we will have a better income than the previous years. So there is no need to panic.” he said.
Latest Ghana Business News