- Chocolate companies are avoiding paying minimum prices to cocoa farmers.
- In Ghana and Ivory Coast, farmers are forced to engage in child labour to maintain optimum cocoa production amid meagre returns.
- Cocoa prices peaked at $12,072 per tonne in February 2024.
Cocoa prices peaked at $12,072 per tonne in February of this year, only to drop to $7,960 per tonne this September, leaving farmers seeking solutions on how to cushion against such adverse price swings.
“Market reports say the world market price of cocoa has witnessed the highest levels of volatility over the past 12 months,” reported the Ghana Food and Agriculture Minister, Dr. Bryan Acheampong.
Ghana is one of the world’s largest producers and exporters of cocoa, one of the highest-priced agricultural food products in the world. To protect her farmers, Ghana has increased the producer price of cocoa by over 129 per cent, the minister announced.
“The cocoa …
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