Board Chairman of the Ghana COCOBOD, Hackman Owusu-Agyeman has revealed that Ghana has lost a total amount of USD$1 billion dollars in revenue generation due to the fall of world cocoa price.
According to him, this occurred within the last six months on the international market price as recently affected prices of oil and gold.
Speaking at the second meeting of the Joint Ghana- Cote D’Ivoire Technical Operation on Cocoa, Owusu-Agyeman said government with experts from Cote D’ voire are putting measures in place to sustain the sector, adding that Ghanaians to consume products made of cocoa in the sub region to boost the economy and promote farmers interest.
On his part, Minister of Food and Agriculture, Dr. Owusu Afriyie Akoto said due to the decline in cocoa price on the international market, government will not increase cocoa price for farmers as promised.
Meanwhile, the CEO of COCOBOD, Joseph Boahen Adu also noted that COCOBOD is putting in place measures to increase cocoa production and consumption.
Some of the measures include curbing smuggling of cocoa bean, increase local consumptions and provide enough inputs of cocoa farmers.