• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Cocoa: Lack of beans forces Ghana to delay, rollover deliveries for next crop season

1 year ago
in Agribusiness, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
261
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cocoa: Lack of beans forces Ghana to delay, rollover deliveries for next crop season

Ghana is in talks with traders to postpone the delivery of at least 150,000 to 250,000 tons of cocoa until next season due to a lack of beans, in the latest sign of how a supply crunch is roiling the global market.

The Ghana Cocoa Board, the regulator, is negotiating with major traders to roll over the delivery until sometime during the season that starts in October, according to five people familiar with the negotiations. The beans are supposed to be delivered during the main harvest that will end in the coming months, and some traders are asking for a big discount for the delay, two of the people said.

The talks highlight the severity of the cocoa crisis that’s been caused by poor harvests in Ivory Coast and Ghana, the top growers, and which is threatening to further raise chocolate prices. Prices have surged to a record — topping $10,000 a ton — as the market faces another global deficit, and the scarcity of beans is making it harder for traders, processors and chocolate makers to source supply.

“At present, there are no ongoing engagements. However, we do recognize the potential need to engage with buyers in the near future,” Ghana Cocoa Board spokesperson Fiifi Boafo said. “No issue about a big discount has been brought up for any such discussion.”

No. 2 grower Ghana has faced difficulties fulfilling its contracts in recent seasons due to lower output, forcing it to roll over deliveries and putting more strain on the global market.

The country recently raised the price it pays farmers following the rally and to stop them from smuggling beans to neighboring nations for higher prices. The country’s lack of beans has also hampered its ability to secure funding that it uses to pay its growers.

RelatedPosts

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

Public Transport Fares to Rise by 20% From August 8 

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

One trader who also asked not to be identified said their company won’t buy any beans for the 2024-25 season from Ghana until issues over existing contracts have been resolved.

Source: bloomberg
Via: norvanreports
Tags: cocoa deliveriesCocoa: Lack of beans forces Ghana to delayGhana seeks to delay cocoa deliveries due to lack of beanslack of beansrollover cocoa deliveries for next crop season
No Result
View All Result

Highlights

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

Transfer DealSheet: Latest on Benjamin Sesko, Nicolas Jackson and More

Gov’t Targets 650,000 Tonnes of Cocoa Production for 2025/26 Crop Season, Eyes 1 Million Tonne Output in the Long-term 

Shoprite to Exit Ghana and Malawi Sharpening Focus on Core South African Market

Gold Fields Forecasts Total Gold Production of 2.4 Million Ounces for 2025

Trending

Features

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

August 5, 2025

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut Renowned public policy...

Public Transport Fares to Rise by 20% From August 8 

August 5, 2025

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

August 5, 2025

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

August 5, 2025

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

August 5, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.