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Board to invest more cocoa money
abroad
Accra, July 09, Ghanadot/GNA – The Ghana Cocobod said on
Monday it was breaking new grounds that would enable Ghana
to maximise its cocoa returns through diversification of its
markets and investing more in the industry abroad.
At a press briefing in Accra on recent developments, Mr
Isaac Osei, Chief Executive of the Board said the move
followed current world demand and taste for Ghana’s premium
quality cocoa bean that some European and Asian countries
had shown.
He said countries such as Cuba, Turkey, China and Khagistan
had shown great interest to trade on commercial lines with
Ghana. Some of them, he said, had placed request for the
importation of Ghana’s cocoa bean.
“We have to look for opportunities for investment elsewhere
and have a stake in what goes on in the world at large.
“Ghana is not making enough money as it should, so we have
to move from being a primary producer and start the process
of looking outward,” the Chief Executive said.
“They will focus more in investing into the tertiary sector
where cocoa is converted into powder and chocolate products
for maximum returns.”
At present, Mr Osei said Cuba, which produced similar
quality cocoa beans like Ghana and with a production
capacity of only about 200,000 tonnes had placed a request
to import about 25,000 tonnes.
He said there was the need to closely consider Cuba’s
request and devise the means of forging links on commercial
lines.
Mr Osei expressed optimism that Ghana would be able to meet
supply targets and even increase its cocoa tonnage
production, adding that the one million target
in 2010 was attainable.
Last year Ghana’s production capacity was 600,000 tonnes and
this year it had been projected at 620,000 tonnes by the end
of the crop season.
Mr. Osei said in future the Board would research into the
artesian production of cocoa (small scale production) in
order to improve on quality and increase the processing
capacity of the product for maximum gains.
He said some internal control measures being taken to
sustain productions levels and maintain quality include
investment in nutrient applications, raising of the amount
of fertilisers usage and strengthening quality controls.
“Domestically, we have to develop the market for the
consumption of cocoa even so for neighbours within the
Sub-Regional countries,” Mr Osei said.
He said CMB is poised and is determined to make its
production process transparent and traceable in order for
Ghana to lead and command the premium prices in the world.
GNA
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