Ghana agrees with Ivory Coast to announce bean prices at start of cocoa season
ACCRA, Sept 12 (Reuters) - Ghana and Ivory Coast have agreed
to coordinate the announcement of bean prices with the opening
of cocoa season, part of a bid by the world's top producers to
harmonise operations and boost producer profits, industry
regulator Cocobod said on Wednesday.
The two countries, which account for more than 40 percent of
global cocoa supply, will jointly conduct a study to determine
the floor price of cocoa, the regular said in a statement.
The agreements will take effect in the 2018/19 cocoa season
which starts in October, subject to approval by the two
countries' parliaments, a Cocobod official close to the talks
Ghana and Ivory Coast began talks in June after
consultations between President Nana Akufo-Addo and his Ivorian
counterpart Alassane Ouattara on a strategic plan to harmonise
cocoa production and marketing.
Wednesday's statement said both countries would continue to
cut cocoa trees infected by swollen shoot virus in their
respective cocoa belts, and work together to mitigate adverse of
climate change on the crop.
(Reporting by Kwasi Kpodo; Editing by Jan Harvey)
First Published: 2018-09-12 17:09:55
Updated 2018-09-12 17:46:36
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