Approximately 47 percent of the anticipated 850,000 tonnes of cocoa beans for the season will be acquired from farmers through the Licensed Buying Companies.
ADVERTISEMENT
Gov't approves $800m loan for COCOBOD
The government has granted approval for an $800 million loan agreement between the Ghana Cocoa Board (COCOBOD) and a consortium of banks and financial institutions. This loan is intended to finance the procurement of cocoa beans for the upcoming 2023/2024 Crop Season.
Parliament of Ghana
Recommended articles
In response to concerns raised by Reuters regarding a reported $200 million loan from cocoa traders to address funding gaps, COCOBOD clarified that it has implemented a two-prong financing strategy with the objective of ensuring sufficient funds are secured for the 2023/2024 cocoa season.
The statement from COCOBOD reassures that concrete measures have been taken, including firm assurances from bankers regarding timely fund availability. Additionally, a "Cocoa syndicated Loan" has been presented in Parliament for consideration and approval.
The 2023/2024 loan facility disbursement is proposed to be utilized for cocoa purchases and related operations as listed below:
ADVERTISEMENT
Farmers’ services cost
– cocoa diseases and pest controls
– fertilizer distribution and application
– farmer pension scheme
– cocoa roads
ADVERTISEMENT
– industry inputs (jute sacks, twine, stencil ink, passbooks.)
– child education support
Share of Net FOB
-payments to farmers
– buyer’s margin
ADVERTISEMENT
– hauler’s margin
– international marketing operations (storage and shipping operations)
– disinfestation/grading and sealing cost
-finance cost
-COCOBOD and divisions cost
ADVERTISEMENT
other costs/scale inspection and phytosanitary inspections
-rehabilitation
-planting of coffee and sheanut operations
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Akufo Addo's driver Joseph Addo wins La Dadekotopon NPP primary
World Bank anticipates substantial decline in global food prices by 2025
Ghana's education quality ranked 125th among 183 nations in latest GYD index
NPP conducts La Dadekotopon parliamentary primary today
We’ve never missed pension payments since 1991 – SSNIT
10 obsolete BVDs legally auctioned - EC clarifies
Newmont pays GHS 1.295 billion in taxes to government of Ghana for Q1 2024
Newmont spearheads malaria prevention as the world marks World Malaria Day
