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Here is how much Ghana and Ivory Coast earn yearly for producing 75% of world’s cocoa

Ghana’s Deputy Minister for Local Government Collins Augustine Ntim said “Those of us who produce the larger quantity of the world's cocoa, are the countries that get the smaller amount of money."

Sample of Cocoa

Ghana’s Deputy Minister for Local Government Collins Augustine Ntim has disclosed that the country and Ivory Coast which produce more than 75% of the world cocoa receives approximately $20 billion while companies that add value to the cocoa make more than $200 billion annually.

“Those of us who produce the larger quantity of the world's cocoa, are the countries that get the smaller amount of money. Ghana and Ivory Coast alone produce more than 75% of the world’s cocoa but the two countries get less than 20 billion US dollars annually leaving the chocolate industries alone to make more than 200 billion US dollars.”

According to him, this disparity can be blamed on poor leadership in both African countries.

He said that to address this challenge, Ghana’s President, Nana Akufo-Addo has initiated policies to ensure some value addition to Ghana’s agricultural produce in order to increase foreign exchange earnings of the country.

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However, this is not the first time Ghanaian public officials have made this claims. Successive governments have made similar claims and paid lip service to the cocoa sector.

However, Mr Ntim said this government is doing all within its power to make sure this is changed.

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