COCOBOD hopeful of 2016/17 targets as it signs new LBC

The Ghana COCOBOD has reiterated its optimism of meeting the one million metric tonnes cocoa output target at least by the end of the next four years.

According to the Cocoa industry regulator, its optimism stems from its ability to meet the over 800 thousand metric tonnes target for the 2016/2017 crop season.

The CEO of COCOBOD, Joseph Boahen Aidoo is also confident that the coming on board of new licensing buying companies should facilitate the efforts aimed at increasing the productivities of cocoa farmers in meeting the set targets.

“Currently we are producing less than 850,000 metric tonnes; we want to go beyond that and produce about one million metric tonnes in the shortest possible time,” he said.

Mr. Boahen Aidoo made the remarks at the launch of the Licensed Buying Company arm of cocoa processing firm; Cargill.

The company, Cargill Kokoo Sourcing Limited will join the number of LBCs currently operating within the supply chain of the cocoa industry.

The COCOBOD Boss further courted the collaboration of Cargill Kokoo Sourcing Limited to improve yields of farmers and meet the overall target of producing enough to fulfill the government’s plan to refine cocoa in the country.

“As part of that, we will need great partners such as Cargill. The company as part of its sustainability program has forged great partnership with COCOBOD and we would like to see this strengthened,” Mr. Boahen Aidoo stated.

He added, “We in the production sector will play our part and we expect that all the players and stakeholders in the value chain also play their role.”

Cargill to pay farmers via e-zwich and mobile money

Speaking at the event, the President of Cargill Cocoa and Chocolate, Harold Poelma touted the unique model of adopting electronic payment platforms for farmers.

Farmers who sign onto the Cargill’s LBC will be paid via e-zwich or mobile money platforms.

This is also expected to culminate in the government’s aim of achieving a cashless economy in the near future.

In his view, the move will rope in more farmers due to its reliability and convenience.

“The Cargill Cocoa Promise is our commitment to accelerate progress towards a transparent global cocoa supply chain, enable farmers and their communities to achieve better incomes and living standards, and deliver a sustainable supply of cocoa and chocolate products.”

“We have already registered 25,000 farmers of which 9,000 are actively pursuing selling beans through Cargill’s LBC network.  These farmers will benefit from our introduction of innovative and enabling technologies and services that will help them on their pathway to emerging entrepreneurs.”

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The Ghana COCOBOD has reiterated its optimism of meeting the one million metric tonnes cocoa output target at least by the end of the next four years. According to the Cocoa industry regulator, its optimism stems from its ability to meet the over 800 thousand metric tonnes target for the 2016/2017 crop season. The CEO ... Read Full Story