The 4th Republic of Ghana and the republic of La Côte d’Ivoire have agreed on the Côte d’Ivoire – Ghana Co-operation to orderly array mechanisms to alleviate the difficulties encountered in production and the commercial processes, including promoting, selling and distribution of the product.
Côte d’Ivoire – Ghana Co-operation was instituted at the instance of the President of the Republic of Côte d’Ivoire, SEM Alassane Ouattara and the President of the Republic of Ghana, H. E. Nana Addo Dankwa Akufo-Addo in 2017.
The Côte d’Ivoire – Ghana Co-operation was agreed on behalf of the Ghana Cocoa Board and the Le Conseil du Café-Cacao of La Côte d’Ivoire, and has the objective of pooling resources and synergizing efforts in tackling common challenges of production and marketing, as well as, taking common position on international issues relating to cocoa.
The initial works culminated in the signing of the Abidjan Declaration in March 2018 by the two Presidents. The Abidjan Declaration states among others to find a sustainable solution for the improvement of prices obtained by cocoa producers in their respective countries.
In pursuit of the above, a two-day Stakeholder Engagement, involving all major cocoa trade houses, processors and manufacturers was convened in Accra to discuss a mechanism for the implementation of a common floor price for cocoa beans produced from Côte d’Ivoire and Ghana.
The following conclusions were agreed at end of the meeting: the proposed floor price of US$2,600 was accepted by all stakeholders; However, processors, manufacturers and traders requested for a technical meeting to fine tune the mechanism for the implementation of the floor price;
It was agreed that a technical meeting be held on 3rd July, 2019 in Abidjan to fine tune the modalities for implementing the floor price; It was also agreed that the issues of sustainability, relating to traceability, environment and child labour, although important be decoupled from the floor price and to be discussed at another forum.
Prelude to any further engagement on the matter, Cote d’Ivoire and Ghana suspended sales of the 2020/21 Crop until further notice, in preparation for the implementation of the floor price.