Wednesday, 14 December 2011
Sustainable cocoa project launched as Ghana cocoa continues to command premium
The Singapore based agricultural trader, Olam International, and Rainforest Alliance which certifies cocoa, have announced that they will together fund a US$1 million investment over the next three years to produce “sustainable” cocoa in Ghana which is certainly timely. They plan to train around 2000 farmers, significantly increase cocoa yields, and plant native trees to regenerate depleted forests in cocoa growing regions to help counter Ghana's annual deforestation rate of just over 2 per cent. The two - who have already implemented projects in Cote D'Ivoire, Nigeria and Indonesia, say that Ghanaian farmers should be able to claim an even greater premium for “certified” cocoa.
Despite a recent cocoa surplus and market price reductions caused mainly by high 2011 production in Cote D'Ivoire and Ghana, long term international cocoa demand should rise. The leading chocolate maker Barry Callebaut AG, claims that approximately one million more tonnes of cocoa per year – i.e. more than Ghana's currently production – will be needed to meet demand by 2020.
For more news and expert analysis about Ghana, please see Ghana Politics & Security.
© 2011 Menas Associates