• 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

COCOBOD urged to resolve $400 LID issues with chocolate manufacturers

4 years ago
in Agribusiness, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
80
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana Cocoa Board (COCOBOD) has been urged to step up deliberations with chocolate manufacturers and other companies in the cocoa value chain working with cocoa farmers to support implementation of the $400 Living Income Differential (LID) to the benefit of farmers.

The LID introduced by the world’s two biggest producers of the cocoa bean prescribes an extra $400 per tonnage of cocoa sold to bulk buyers. The LID is aimed at improving the lives of cocoa farmers in the two countries.

Making the call on the state cocoa agency at the 2021 West Africa Regional Fairtrade Congress and Convention in Accra, Global CEO of Fairtrade, Dr Nyagoy Ngyong’o, stated that COCOBOD should also engage the European Union (EU) on its threat to boycott purchases of Ghana’s cocoa on the back of child labour issues and illegal mining in cocoa areas.

But the European Union (EU) has also denied reports of threatening to ban cocoa from Ghana over illegal mining practices and child labour issues stating that although the Union is developing a legislation that will impose obligations on EU companies to purchase products that are produced sustainably across the value chain as a way to ensure that methods used in production protect the environment and benefit farmers economically, the legislations are in no way targeted at Ghana.

“Sustainability has become a priority in the EU, European consumers want to know what they are consuming. The idea is that they want to know that the value chain of products they are consuming in Europe do not contain unstainable elements. It is accelerating now particularly because of the European green deal.”

“The priority of this European administration is to have a climate neutral continent by 2050, and we cannot only look at what happens in Europe; we have to also look at what happens outside. But there is another element which is the economic sustainability. Everybody knows that cocoa farmers are getting too little of the cake and we know this is not a sustainable situation,” stated the Head of the EU Mission to Ghana, Ambassador  Diana Acconcia.

The implementation of the $400 LID by Ghana and Ivory Coast has faced some constraints as some of the world’s major chocolate manufacturers are unwilling to pay the extra amount for farmers in the two countries.

RelatedPosts

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

This led to Ghana and Ivory Coast cancelling all cocoa sustainability schemes that U.S.-based Hershey for instance, operated in their respective countries, accusing the chocolate maker of trying to avoid paying a cocoa premium aimed at combating farmer poverty.

The sustainability schemes run by the major chocolate firms certify cocoa as sustainably sourced, allowing them to market their chocolate as ethical and charge a premium for it.

Tags: $400 Living Income Differential (LID)Dr Nyagoy Ngyong'oEuropean Union (EU)Ghana Cocoa Board (COCOBOD)Global CEO of Fairtrade
No Result
View All Result

Highlights

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

CHAN: Morocco and Madagascar Advance to Semi-Finals, Ending Kenya and Tanzania’s Dreams

Chelsea Thrash West Ham 5-1, Increasing Pressure on Former Boss Graham Potter

Lithium Price Surge to be Short-Lived, Analysts Say

Gold Fields Targets 20% of Global Output from Tarkwa Mine by 2026

Trending

Business

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals The Trump administration is considering...

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

August 23, 2025
Von links nach rechts: Général Birame Diop, Verteidigungsminister ; Franziska Cusumano, CEO Mercedes-Benz Special Trucks (Daimler Truck AG) ; Cheikh Ibrahima Cisse, Präsident GTS Senegal  From left to right: Général Birame Diop, Minister for the Armed Forces (Defence) ; Franziska Cusumano, CEO Mercedes-Benz Special Trucks at Daimler Truck ; Cheikh Ibrahima Cisse, President GTS Senegal

Senegal and Mercedes-Benz Partner to Build Trucks

August 23, 2025

INTERPOL Recovers Over $90 Million From African Crime Syndicates

August 23, 2025

Djokovic and Gauff Gear Up for US Open with Strategic Focus

August 23, 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.