Cocoa stakeholders accept $2,600 as maiden floor price for tonne of cocoa

Stakeholders in the cocoa business have agreed in principle that they will not buy a tonne of cocoa from Ghana and Cote D’Ivoire below $2,600.

Briefing the media at a press conference since on Wednesday, the Chief Executive Officer of COCOBOD, .Mr. Joseph Boahen Aidoo, said the stakeholders, comprising traders, processors and manufacturers also agreed that Ghana and Cote D’Ivoire would not sell produce from the 2020/21 cocoa season until further notice.

The agreement was contained in a communique by the stakeholders at a meeting

Ghana and Cote D’Ivoire who supply more than 6percentnt of global cocoa beans reached an agreement to halt the sale until a reasonable price has been agreed upon.

Mr. Aidoo said the stakeholders further agreed that they will meet on July 3 in Abidjan, Cote D’Ivoire, to deliberate further on the floor price and the suspension of sales from the 2020/21 cocoa season.

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