Ghana’s controlled institution that fixes the buying price for cocoa, COCOBOD has revealed that the country’s domestic processing of cocoa hit 300,000 tonnes in the 2017/2018 cocoa season.
This indicates that, there has been a 19 per cent jump from the 252,000 tonnes processed the previous season.
The increase hence, resulted to a 34 per cent of the total volume of annual cocoa output averaging 900,000 tonnes that is processed locally.
The Chief Executive Officer (CEO) of COCOBOD, Mr Joseph Boahen Aidoo, in a report, revealed that, the board was on course to meeting the 2022 target of processing a minimum of 50 per cent of cocoa output locally.
He further attributed the achievement to increased utilisation of the existing capacities of domestic cocoa processors, adding that, COCOBOD’s support to the grinders and the offering of beans on credit to some of the processors was also a contributing factor.
The CEO explained also that, “In the case of the Cocoa Processing Company Limited (CPC), we established an Escrow Account so that after processing and sales, they lodge the money into the account for us to take the money meant for the beans. The rest can then be used for settling other costs of processing.”