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Cocoa Farmers in Top Producer May Miss Out on Surging Prices

Cocoa Farmers in Top Producer May Miss Out on Surging Prices

Cocoa prices have surged by a third this year, but that’s still unlikely to translate into big gains for farmers in top producer Ivory Coast.  The West African nation uses forward sales to determine the minimum farmer price, so recent gains may have come too late for the smaller of two annual harvests that starts […]

Ghana May Struggle to Repay Lenders’ $1.3 Billion Cocoa Loan

Ghana May Struggle to Repay Lenders’ $1.3 Billion Cocoa Loan

Ghana Cocoa Board may struggle to fully pay back loans of $1.3 billion as this season’s harvest will likely be smaller than first anticipated, according to the head of the industry regulator. The world’s second-biggest grower signed for the loans with lenders such as Credit Agricole SA and Natixis SA prior to the start of […]

Ghana Risks the Anger of 800,000 Cocoa Farmers

Ghana Risks the Anger of 800,000 Cocoa Farmers

The government of President Nana Akufo-Addo in Ghana will struggle to sidestep one of its most difficult decisions since coming to power a year ago: telling a crucial constituency to accept a pay cut. The New Patriotic Party-led government has little choice but to end subsidies for its 800,000 farmers that will likely cost almost […]

Ghana Orders Security Forces to Clamp Down on Cocoa Smuggling

Ghana Orders Security Forces to Clamp Down on Cocoa Smuggling

Ghana’s cocoa regulator said the nation’s security forces will clamp down on the smuggling of beans as a disparity in producer prices are encouraging illegal trade with neighboring Ivory Coast. The world’s second-biggest cocoa producer is trying to stop smuggling from Ivory Coast, where the chocolate ingredient cost a quarter less than in Ghana. The […]

Ghana Produces Biggest Cocoa Crop in Six Years

Ghana Produces Biggest Cocoa Crop in Six Years

Ghana has recorded its biggest cocoa harvest in six years, according to two people familiar with the matter, after favorable weather conditions boosted output in the world’s second-biggest grower. Graded and sealed deliveries since the beginning of the season in October reached 909,493 metric tons by July 27, said the people, who asked not to […]

Ghana To Tap Stabilization Fund For Cocoa Pay Next Season

Ghana To Tap Stabilization Fund For Cocoa Pay Next Season

Ghana will probably start drawing from its stabilization fund to cover cocoa farmers’ pay during the season that starts in October as the second-biggest grower props up local prices in the face of a global slump. While Ivory Coast, the largest producer, has already slashed the price it pays farmers for the smaller of two […]

Ghana to Produce Biggest Cocoa Crop in Three Years

Ghana to Produce Biggest Cocoa Crop in Three Years

Ghana has recorded its biggest cocoa harvest in three years, according to two people familiar with the matter, after better weather conditions boosted output in the world’s second-biggest grower. Graded and sealed deliveries from the so-called main crop, the larger of two annual harvests, reached 812,153 metric tons by May 25, said the people, who […]

It’s Time to Load Up on Chocolates Before Cocoa Rebounds

It’s Time to Load Up on Chocolates Before Cocoa Rebounds

Chocolate addicts, it’s probably a good time to start stocking up. The treats may not be this cheap much longer. Cocoa’s 41 percent slump over the last 12 months makes it the worst performer among 34 commodities tracked by Bloomberg. Prices tumbled as output increased in Ivory Coast, the world’s top grower, and the decline […]

Ivory Coast Plays Blame Game for Cocoa Crisis in Top Grower

Ivory Coast Plays Blame Game for Cocoa Crisis in Top Grower

Ivory Coast’s cocoa regulator pointed to speculators and prospects for a glut as the reason for a slump in futures that forced the nation to cut the price it pays farmers. There was something it didn’t blame: Itself. Le Conseil du Cafe-Cacao also said a volatile pound and defaults by local exporters contributed to a […]