Ghana and Ivory Coast seal strategic alliance to regulate cocoa prices

Ghana and Ivory Coast, responsible for 60% of the world's cocoa production, have forged a strategic alliance to stabilize prices and bolster their economies. The agreement, announced following a high-level summit in Abidjan, aims to ensure fair prices for farmers and promote local industrialization of cocoa products.

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a fair remuneration for the farmers

Presidents John Dramani Mahama of Ghana and Alassane Ouattara of Ivory Coast met to establish a common framework for determining producer prices and enhance market intelligence. This move seeks to guarantee "a fair remuneration for the farmers," according to the Ghanaian presidency.

The alliance also focuses on combating threats to cocoa production, including the swollen shoot virus (CSSVD), which significantly reduces yields and can kill the plants. Both nations will strengthen cooperation between their research institutes to eliminate the disease. They are also backing the "Ivory Coast and Ghana Cocoa Initiative (CIGCI)" and "African Regional Standards for Sustainable Cocoa (ARS-1000)" to certify production as free from deforestation and child labor.

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the continent produces the 80 % of the granos del mundo

Furthermore, the countries committed to processing substantial volumes of cocoa locally and promoting intra-African trade of derived products. They also plan to form alliances with other African producers, as the continent accounts for 80% of global cocoa beans. The leaders expressed grave concern over environmental threats, particularly the impact of illegal mining on shared water resources, and agreed on a joint strategy to curb these activities and mitigate climate change effects on crop yields.

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The leaders agreed on a joint strategy to aggressively reduce illegal mining activities, initiate comprehensive cleanup operations for shared water sources, and mitigate the effects of climate change on crop yields.