GHANA – The Ghana Cocoa Board (COCOBOD) executive director Joseph Boahen Aidoo has pointed out that the demand for sustainability in cocoa production translates into additional costs that European consumers will bear on the end products.
Aidoo’s remarks follow a recent decision by the European Union to ban imports of commodities including soy, beef, palm oil, wood, cocoa, and coffee, and products linked to deforestation and rights abuses by 2024.
“Although deforestation is a huge challenge, we must consider that cocoa is the only crop that has preserved Ghana’s forest and supported global effort,” Boahen Aidoo emphasized.
He added that the adaptation of production methods to the new regulations should require investment and, in turn, a higher price for the acquisition of raw materials and therefore more expensive finished products.
In such a context, the manager stresses that consumers should be made aware of an increase in the purchase price of chocolate products in the future.
West Africa collectively supplies two-thirds of the world’s cocoa crop, with Ivory Coast accounting for 45% of global production.The crop on the other had accounts for 14% of the country’s GDP, and feeds 24% of the country’s of about 27 million people.
According to the United Nations Development Programme, Ghana is the second largest cocoa producer in the world, contributing to 25% of global cocoa production. Statista’s data shows that in 2021/2022, Ghana is estimated to have produced about 689 thousand metric tons of cocoa beans, the most ever produced by the country.
The world’s second-largest cocoa-growing country has forecast 750,000 tonnes of cocoa production in the 2022-2023 crop season.
COCOBOD has estimated that production will be higher than the 2021-2022 season, although official figures have not been released at the time of writing.
The cocoa regulator said the producer price to be paid at all buying centers is ¢384 per load of 30 kilograms for grade 1 and 2 cocoa beans or ¢800 per bag of 64 kilograms. A tonne of 16 bags is, however, going for ¢12,800 ($1207.10).