ACCRA, Ghana – Reports chanced upon by APA on Monday indicates that Ghana has lost $1 billion in cocoa revenue following a slum in world prices.The price of cocoa has fallen from US$3,000 in per ton in January to US$2,032 per ton in June, as global production has increased by 15 percent.
The Daily Heritage reported Monday that Chief Executive Officer (CEO) of the Ghana Cocoa Board, Mr. Joseph Boahene Aidoo, has assured that farmers would not be affected by a 40 percent reduction in the global production cuts.
He noted that Ghana was losing a lot of revenue from the sharp fall in cocoa prices and urged farmers to keep faith with his outfit, although it could not increase prices.
Ghana has targeted to export one (1) billion tonnes of cocoa and initiated programmes and incentives to support cocoa farmers, therefore the reduction in price has affected government revenue inflows.
