Côte d’Ivoire and Ghana plan to co-ordinate cocoa sales to try to exert more influence on the market.
According to a Bloomberg report, the countries want to harmonise their marketing systems. Bloomberg said officials from each country will visit the other to exchange information.
Joseph Boahen Aidoo, chief executive officer of Ghana’s cocoa regulator, Cocobod, told Bloomberg, “once we’re able to harmonise, then the two countries can decide when to go to the market. Once that decision is taken and what amount or volumes of cocoa can go to the market, then we can regulate.”
The countries will also work on setting a floor price for their farmers and will announce the rate at the same time before each harvest from next season, they said in a statement.