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Ghana, Cote d’Ivoire close to adopting single cocoa trading system

The Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo has revealed that Ghana and Cote d’Ivoire are close to harmonising their system of trading cocoa at the world market. This is to give the two major producing countries some control, at the cocoa market.

The harmonisation will help the two countries in their quest take a strong position on deciding the price of cocoa at the world market.

The two countries have been collaborating in recent times on how to improve the income of farmers but the difference in their respective trading systems has become a major setback.

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But speaking Thursday, October 25, as a panelist at ongoing World Cocoa Foundation meeting in Sao Paulo, Brazil, the head of Ghana’s cocoa regulator indicated that the major driving force for the collaboration of the two countries is the price.

 

Source: Myjoyonline.com

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