Economic news for Wednesday 23 June 2021
• Ghana blamed low-paid farmers’ brands of chocolate
• He said the chocolate brands did not follow the cocoa bonus program introduced
• Ghana and Côte d’Ivoire are the world’s leading cocoa producers
Ghana has said it will expose chocolate makers who pay farmers for their products, the BBC reported.
Côte d’Ivoire and Ghana, being the world’s largest cocoa producers, have introduced a program to make cocoa cultivation rewarding for farmers.
This premium payment system, according to the two countries, will help cocoa farmers to lift themselves out of poverty.
In the face of the global coronavirus pandemic, demand for cocoa has experienced a deficit which has caused supply to exceed demand.
Major cocoa farmers have accused buyers of asking farmers for unfair discounts as well as not wanting to follow the premium payment system.
The BBC reported that the managing director of the Ghanaian cocoa regulator COCOBOD, Joseph Boahen Aidoo, believes that “It is like robbing consumers by collecting bonuses on chocolate bars and then refusing to pay when they are sold. purchase of cocoa beans. “