The current Fair Trade report has revealed that Ghana may lose its position as one of the best exporters of cocoa to neigbouring countries if swift measures are not taken to address the issues of encroachment by some real estate developers.
According to the President of the network, Florence Blankson, deforestation and illegal mining activities are already posing a threat to cocoa farmers, hence the government should intensify its efforts in addressing issues affecting the cocoa sector.
Speaking at the 6th Annual General Meeting of Fair Trade Ghana Network, she argues that the government has not been proactive enough to tackle issues affecting the sector.
She bemoaned the ineffectiveness of government’s agencies in engaging these players within the sector for sustainability.
“The “galamsey” is an issue, felling down of trees are also issues and some real estate developers are taking over cocoa farmlands and if we don’t take care, very soon we may lose our position as one of the exporters of cocoa globally”.
“When we went around the water bodies they were all like tea and I wonder where we are going with this”, She said
According to Statista, in 2022, the export value of cocoa beans and cocoa products from Ghana amounted to about $2.3 billion, which was a decrease of 19.0% from the preceding year.
Within the observed period, the highest value of the exports was achieved in 2021, with approximately $2.84 billion U.S. Cocoa beans and cocoa products are a very important commodity in Ghana, as it represents a large percentage of Ghana’s exports.
The Fair Trade Ghana Network is a membership-based organisation championing sustainable agriculture and handicraft production in the fair trade environment in Ghana.
It is a national network of fair trade certified farmers, handicraft producers, and hired labour organisations.
The network focuses on programmes in the following areas for the benefit of its members.
Cocoa prices on Tuesday closed moderately higher, with Mar NY cocoa posting a contract high and nearest-futures (CCZ23) posting a 46-year high. Continuous rain has limited fieldwork and encouraged crop disease on West African farms, which provide most of the world’s cocoa supply.
It has also stoked concern that current cocoa production will be unable to replenish supplies to avoid a global deficit. Gains in London cocoa were limited due to the strength of the British pound. The pound on Tuesday (^GBPUSD) climbed to a 2-3/4 month high against the dollar, undercutting cocoa that is priced in sterling.
Signs of smaller cocoa output in the Ivory Coast, the world’s largest cocoa producer, are bullish for prices. On Monday, data from the Ivory Coast government showed Ivory Coast farmers shipped 479,449 MT of cocoa to ports from October 1-November 27, down -32.2% from the same time last year.
ICE-monitored cocoa inventories held in U.S. ports have declined steadily since June and posted a 2-1/2 year low Tuesday.
Recent heavy rain in West Africa has caused black pod disease to spread and is a major bullish factor for cocoa prices. The spread of the disease, which causes cocoa pods to turn black and rot, could result in lower cocoa crop quality and production and push the global cocoa market into a third year of deficit for the 2023/24 season.
Also, the spread of the swollen shoot virus is threatening Ivory Coast cocoa crops. The virus is transmitted via mealybugs that feed on the sap of cocoa plants and will significantly reduce cocoa crop yields before eventually killing the plant. Tropical Research Services estimates that about 20% of the cocoa crop in the Ivory Coast is infected with the swollen shoot virus.
Concern about lower cocoa production in Ghana, the world’s second-largest producer, is bullish for cocoa prices. Ghana’s cocoa regulator said on August 16 that some of its cocoa farmers are unlikely to fulfill some of their cocoa contracts for a second season. Ghana’s regulator postponed 44,000 MT of cocoa shipments to future seasons due to a lack of supplies. Ghana’s 2022/23 cocoa crop is now expected to be around 683,000 MT, a 13-year low and 24% below initial estimates of 850,000 MT, as a lack of fertilizers and black pod disease hurt cocoa yields.
Cocoa prices remain supported by concern that an El Nino weather event could undercut global cocoa production. On June 8, the U.S. Climate Prediction Center said that sea surface temperatures across the equatorial Pacific Ocean had risen 0.5 degrees Celsius above normal, and wind patterns have changed to the point where El Nino criteria have been met. Cocoa prices rallied to 12-year highs in 2016 after an El Nino weather event caused a drought that hampered global cocoa production.
Soaring cocoa prices are undercutting global cocoa demand. Circana reported that U.S. chocolate sales in the four weeks ended October 8 fell -9.2% y/y. The National Confectioners Association reported on October 24 that Q3 North American cocoa grindings fell -18% y/y to 97,881 MT, weaker than expectations of a -12% y/y decline and the fewest grindings for a Q3 in 15 years.
The Cocoa Association of Asia reported on October 23 that Asia Q3 cocoa grindings fell -8.5% y/y to 211,468 MT. The European Cocoa Association reported on October 12 that European Q3 cocoa processing fell -0.9% y/y to 366,298 MT, an improvement from the -5.7% y/y decline in Q2. On the more positive side of demand, Gepex, an exporter group that includes six of the world’s biggest cocoa grinders, reported on October 17 that its Q3 cocoa processing rose +7% y/y to 183,731 MT.
The International Cocoa Organization (ICCO) reports that global 2022/23 cocoa production increased +2.4% y/y to 4.938 MMT, and global cocoa grindings increased +0.2% y/y to 5.005 MMT. ICCO estimates end-of-season 2022/23 global cocoa stocks at 1.707 MMT and the cocoa stocks-to-grinding ratio at a 7-year low of 34.5%. ICCO projected a global cocoa deficit for 2022/23 of -146,000 tons and said, “The expectation of a supply deficit has been compounded with weather variations, especially in West Africa.”
The Minister of Food and Agriculture (MoFA), Dr. Bryan Acheampong, says food prices in Ghana have drastically reduced within the last few months.
He attributes this reduction to the prudent measures implemented by the government which he says is yielding positive results.
Speaking to journalists in Accra on the sidelines of the Agric Fair at the premises of the Ministry, Dr. Acheampong noted that prices of food products have decreased, but consumers still pay high in some instances because of exercise profiteering by middlemen.
“We have been able to bring the price of maize down by 50%. And it is not just the maize. With regard to a lot of the cereals, the prices are dropping. Maize that used to sell at the same time last year at GH¢300 for 50kg bag now is GH¢148, the maximum that you get is GH¢150 which means that there is a 50% drop in the price of maize.”
“But nobody is talking about it because you don’t see it translate into the price of a ball of kenkey. It means that there’s someone in the middle who is pocketing the profit,” he stated.
Meanwhile, new evidence shows that weak competition may be causing unfair food prices for consumers in Ghana, as retail prices rise significantly faster than wholesale prices.
Food products such as onions, gari, and sorghum are flagged as key markets of concern; national authorities are urged to investigate and act.
Experts in Ghana and globally are warning that some market actors are making record profits in this time of a food crisis, at the expense of overcharged consumers and underpaid farmers.
A new tool created by consumer organizations has highlighted the risk of unfair food prices in Ghana, driven by insufficient competition in national and global food supply chains.
The Fair Food Price Monitor warns how rising prices for Ghanaian consumers are potentially being caused not only by factors such as increased fuel costs and currency depreciation, but also by dominant market actors taking advantage of this crisis to increase prices excessively.
The tool, developed by Consumers International (representing consumers worldwide) and Ghanaian organization Consumer Advocacy Centre (based at Laweh University College), uses data from sources such as the UN World Food Programme (WFP) and UN Food and Agriculture Organization (FAO) to track the relationship between food prices at different stages of the supply chain in Ghana and to highlight where investigation and action may be needed from the government.
The Food and Agriculture Minister, Bryan Acheampong, has assumed the chairmanship of the Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI) at the 5th Steering Committee Meeting held in Abidjan.
The Minister who doubles as the Abetifi Constituency Member of Parliament, replaced the Ivorian Minister of Agriculture and Rural Development, Kobenan Kouassi Adjoumani.
The CIGCI is the product of President Nana Akufo-Addo and Ivorian head Alassane Ouattara, to bring pressure to bear on international cocoa buyers and trade houses for a minimum floor price of $2,600 per tonne for cocoa beans produced in the respective countries.
Meetings with stakeholders from trade houses, cocoa purchasing companies, chocolatiers, the World Cocoa Foundation, and the International Cocoa Organisation culminated in a decision to introduce a new trading mechanism with the Living Income Differential (LID), set at $400.00 per tonne, for cocoa sold by both countries starting from the 2020/21 season.
Under the new role, Dr Acheampong is expected to see to the completion and handover of the permanent headquarters of the Initiative in Accra.
He will also see to expanding bloc membership (bringing on board other African cocoa-producing countries), general restructuring of the CIGCI and rolling out the West African Standards for sustainability and cocoa traceability systems.
The Cote d’Ivoire-Ghana Cocoa Initiative (CIGCI) was born in March 2018 to improve farmer pay and financially improve the lives of cocoa farmers.
Regarding keeping the local front compliant with best cocoa practices, the CIGCI is also leading the process for the formulation of the West Africa Standards for certification and traceability of cocoa from the subregion.
Commenting on his new role, the Agric Minister promised to utilise his position to further the interests of cocoa producers in particular and the causes of the two countries.
He stated that his position was crucial and aimed to ensure that the dreams of the two presidents were realised.
As the only way to realize the initiative’s goal, he tasked the participants with ensuring everyone carried their share of the responsibility for adhering to its rules.
Under his watch as an agriculture minister, Ghana has raised the state-guaranteed cocoa price paid to its farmers by more than 63% to boost income and prevent beans from being smuggled to neighbouring countries.
The increment will see farmers receive 20,943 Ghana cedis ($1,837) per tonne for the new 2023/2024 season, which started in September 2023, compared with 12,800 Ghana cedis they got in 2022.
The Founder, Cocoa Mmaa farmers’ cooperative, Leticia Ama Kowoa Yankey has lauded Rainforest Alliance for focusing on improving the living conditions and health status of people in under-served cocoa farming communities.
She said this when Rainforest Alliance presented some remediation items like school bags, exercise books, pens, pencils, bicycles, solar charges, uniforms and some other items were handed over to the identified children to go back to school and parents to help them start their own business to access additional income streams aside from cocoa farming.
Rainforest Alliance, an international non overnmental organization, with its partners International Cocoa Initiative (ICI) and Solidaridad Ghana, with funding from NORAD are helping farmer cooperatives to implement a human rights due diligence system that commits its leadership and members to a culture of respect for human rights.
This forms part of a drive to their “Yen Ne Mmofra No Nti” tackling forced and child labour project under which Cocoa Mmaa cooperative piloted the gender-sensitive tool that was developed by Rainforest Alliance.
The comprehensive tool throws more light on issues of child labour, forced labour, gender equality and workplace violence and harassment amongst other human right issues.
The tool helped identify vulnerable at risk and involved victims of child labour and forced labour for which remediation items have been provided to 39 residents from Kyensendaho, Babianiha, Achiase, Abudukrom, Antwikrom, Teacherkrom, Kontokrom, Buabin, Soboroso and Kwameprakrom of the Dunkwa cocoa district in the Western South cocoa Region.
She used the opportunity to advise beneficiaries to embrace the culture of respect which is enshrined in the HRDD system so as to eradicate child labor and avoid practices that will jeopardize the future of the children.
“I have learnt that practicing child labor will not give us a good standing in selling our cocoa in the international market. I want to charge the cooperative leaders to do peer to peer education on child labor among themselves and also among residents of the community.”
There will be monitoring done to make sure the items are being used for the intended purposes.
“The community and our leaders really appreciate the support we’re getting from Rainforest Alliance and its partners.
“Let me also use the opportunity to also thank “Better Than Cash-Digitalization” for also supporting us with mobile phones and solar chargers.
Ms. Yankey stated that, “the Senior Project Manager, Joyce Poku-Marboah and the Monitoring & Evaluation Associate, Alvin Adu-Asare, were instrumental in the implementation of the HRDD pilot and visited a number of times to provide guidance and listen to the concerns of the residents in the various communities” for which they are grateful.
Chief of Buabin, abokomahene Twifu Buabin, Nana Okoforobour I, Beneficiaries and the Buabin Electoral Area Assemblyman, Benjamin Obeng expressed their appreciation to Cocoa Mmaa, Rainforest Alliance and their partners for coming to the aid of these vulnerable individuals and the community at large.
“We are very happy, believing God that if we are able to do as led, we would be able to raise money to feed our families and train others to also become self-sufficient” they said.
The Green Communities International in partnership with ACeBI, Chamber of Agribusiness Ghana and other partners are set to organize the first ever international conference on Environment, Social, Governance and Sustainable development of Africa at the Kwame Nkrumah University of Science and technology, KNUST, Kumasi on the 26th-29th of March 2024.
The conference is with the theme: “Enhancing Environment, Social Governance and Sustainability (ESG) for Africa’s development”.
The main aim is geared towards bringing together schorlars, ESG, practitioners and decision makers in Ghana, Africa and around the globe to discuss innovative pathways to transform our world into a sustainable and a liveable place.
The conference is positioned to bring business leaders, political leaders, church and traditional leaders, academics, ESG and CSR practitioners both locally and globally with specifics to Africa at a one-stop-shop to discuss the contributions of corporate organizations in delivering the sustainable development goals and more.
There would be impressive, and educational topics for discussion on ESG/CSR and sustainability of Africa Continental Free Trade Area [AFCFTA] that will highlight issues such as Sustainable trade and investment systems in Africa, Sustainable resource mobilization, wealth creation and management in Africa, Sustainable policies, and regulations of the Africa Free Trade Area and among others.
Other thematic areas include: ESG/CSR and sustainability of public and private sector institutions in Africa, Social innovations, entrepreneurship and indigenous knowledge management, Sustainable innovations in the built Environment Ecosystem in Africa etc….
ICESDA conference at the end seeks to converge over 2000 participants of being linked up in persons and virtual including researchers, academics, business executives, political leaders, and institutions with interest in issues of social investments, governance, environment, and sustainability from over 10 countries.
Among others, the conference is by far the largest international gathering in Africa on the ESG/CSR agenda, bringing together over 600 business executives, political leaders, academics, traditional and religious leaders and policy makers, think thanks to expand their knowledge on new research findings and innovations so that they can apply to improve business decisions and strategic initiatives.
This medium would highlight or showcase many novel and exciting events to get everyone along. It will incorporate traditional scholarly academic style conference presentation as well as novel and unorthodox practitioner style presentation and activities which shall include keynotes speaker presentations from Academics and researchers among others. To book your seat visit https://www.csrconferenceafrica.com/
The Executive Director of Agrihouse Foundation, Alberta Nana Akyaa Akosa, is poised to address a global audience at the International Cassava Fair in Brazil today, Thursday, November 23rd, on the topic “Leveraging International Platforms to Commodify Cassava in Ghana.”
Emphasizing the significance of commodifying cassava in Ghana, Ms. Alberta Nana Akyaa Akosa’s keynote address will underscore the pivotal role of international collaboration in catalysing advancements within Ghana’s cassava industry. This insightful discourse aims to position Ghana as a key player on the global agricultural stage.
This strategic initiative goes beyond showcasing the ingenuity within Ghana’s cassava sector; it also aims to foster invaluable connections and explore sustainable business opportunities within the dynamic global cassava value chain.
Ms. Akosa, will also shed light on the unique opportunities and challenges facing Ghana’s cassava industry, exploring avenues for collaboration with international partners, the adoption of best practices, value addition ,mechanization and the implementation of innovative strategies to position Ghana as a major player in the global cassava market.
This focus on the immense potential of cassava as a cash crop aims to contribute significantly to food security and economic growth in Ghana.
Ms. Alberta Nana Akyaa Akosa ,will also delve into how Ghana can leverage the International Cassava Fair platform, to enhance value addition in processing transportation and mechanization among others .
Moreover, she will emphasize the collaborative potential of the International Cassava Fair in facilitating capacity building. This includes bringing resource persons from Brazil to Ghana, imparting valuable knowledge and skills.
Attendees at the International Cassava Fair will have the opportunity to gain valuable insights into the present and future of Ghana’s cassava industry and the crucial role that collaboration on the global stage can play in its success. The event promises to be a milestone in the ongoing efforts to position Ghana as a key player in the international cassava market.
The International Cassava Fair (FIMAN), organized by Podium Alimentos in Brazil which opened on Tuesday, November 21st and expected to end on Thursday, November 23rd, 2023, represents a pivotal moment for knowledge exchange, networking, and collaborative exploration in the cassava sector .
Demonstrating a steadfast commitment to showcasing Ghana’s cassava industry on the global stage, Agrihouse Foundation, the official franchise holder for the International Cassava Fair in Ghana, lead a delegation of 17 esteemed figures across diverse sectors of the Ghanaian agricultural landscape at the International Cassava Fair in Paranavaí, Brazil.
This fair provides a unique platform for the Ghanaian delegation, comprising visionaries from various segments, including farmers, processors, input dealers, Farmer-Based Organizations (FBOs), aggregators, and other key players in the agricultural value chain.
the Ghanaian delegation are actively participating as exhibitors, engaging in illuminating Business Matchmaking sessions, and pursuing collaborative initiatives with international counterparts. This multifaceted approach underscores the delegation’s dedication to not only showcasing the present capabilities of Ghana’s cassava industry but also fostering future growth through strategic partnerships.”
The Ghanaian delegation boasts a diverse array of influential figures, each contributing a unique perspective to the global dialogue on cassava innovation:
This diverse and influential delegation not only serves as ambassadors for Ghana’s cassava industry but also positions the nation as a key player in the global agricultural landscape.
As Agrihouse Foundation continues to lead the charge, the future of Ghana’s cassava sector looks promising, marked by innovation, collaboration, and sustainable growth.
The government is set to lay before Parliament today, November 21, a Constitutional Instrument (C.I) seeking to restrict the importation of selected strategic products into the country.
The items, numbering over 20, will include rice, tripe (popularly called “yemuadie” in Ghana), and diapers.
The government said the move is part of efforts to enhance local production.
Speaking during a press briefing in Parliament, the Minister of Trade and Industry, K.T Hammond said, “Stomach of animals, bladder and the chunk of intestines (yemuadie), the country had had to put in an amount of about $164 million towards the importation of these items. We are taking steps to ensure that in terms of rice, there’s no poverty of rice in the country.”
He emphasized, “By these restrictions, we are not going to ensure that there’s no food in the country at all; that is not the point at all. There have to be some efforts by the government to ensure that we go back to Acheampong’s operation feed yourself. There are about 22 items on the list, one of them, I think, is diapers.”
He announced the introduction of the Ghana Standards Authority Regulations 2023, which also seeks to streamline the manufacturing of cement to ensure competitive pricing.
Agrihouse Foundation has been honoured with the prestigious American Chamber of Commerce Ghana (AmCham) Award for its exceptional organization and promotion of the 2023 U.S-Ghana Business Expo.
The distinguished accolade was presented during the 2023 AmCham Ghana Thanksgiving Dinner and Awards Night held at the Labadi Beach Hotel on Saturday, November 18, 2023, themed “U.S. and Ghana Diaspora: Agents of Development and Prosperity.”
Known for its commitment to acknowledging excellence in initiatives fostering global partnerships, the American Chamber of Commerce, Ghana (AmCham), commended Agrihouse Foundation’s unwavering dedication, contribution, and hard work in organizing and promoting the 2023 Maiden edition of the U.S-Ghana Business Expo, held at the Labadi Beach Hotel from the 10th to 11th of August 2023, under the theme “Leveraging U.S-Ghana Trade Relations for Growth and Prosperity.”
Expressing gratitude for the recognition, Alberta Nana Akyaa Akosa, Executive Director of Agrihouse Foundation, stated, “We are honoured to receive this award from the American Chamber of Commerce. It is a testament to the hard work and dedication of our team and the collaborative spirit that propels our mission. Serving as the event organizers for the 2023 U.S-Ghana Business Expo was both a privilege and a tremendous opportunity. We extend our sincere thanks to the American Chamber of Commerce Ghana for believing in us and entrusting us with the organization of the maiden U.S-Ghana Business Expo.”
The 2023 U.S-Ghana Business Expo, meticulously executed by Agrihouse Foundation, provided a platform for fostering bilateral trade collaborations and economic growth between the United States and Ghana.
The Expo had in attendance over 800 participants, including key industry stakeholders, entrepreneurs, government officials, business leaders from both nations, and the general public.
The expo also had in attendance, trade delegation from the U.S. Department of Commerce led Global Diversity Export Initiative (GDEI) trade delegation that included 19 companies and six trade associations, including the National Black Chamber of Commerce, the National Business League, U.S. Black Chambers Inc., Dallas Black Chamber of Commerce, the National Centre for American Indian Enterprise Development, and the Organization for Women in International Trade.
The GDEI delegation represents diverse communities and industries across the United States with a focus on information and communications technology, consumer goods, and the automotive sectors.
A significant highlight of the Expo was the trade pavilion, which featured more than 40 companies. It showcased the products and services of visiting U.S. companies and trade associations, AmCham Ghana member companies, and local companies from various industries. It also provided an opportunity for participants at the event to engage in networking activities and establish strategic relationships.
The Expo yielded tangible outcomes, facilitating strategic partnerships, fostering cross-cultural understanding, and laying the foundation for sustained economic development.
Agrihouse Foundation remains committed to its mission of fostering sustainable development through initiatives that bring nations together for mutual prosperity.
