• 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

Côte d’Ivoire-Ghana Cocoa Initiative Reaffirm Commitment to Sustainable Cocoa Farming and Farmer Livelihoods

1 year ago
in Agribusiness, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
90
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Côte d’Ivoire-Ghana Cocoa Initiative Reaffirm Commitment to Sustainable Cocoa Farming and Farmer Livelihoods

Côte d’Ivoire and Ghana, the world’s leading cocoa producers, have reaffirmed their commitment to improving the livelihoods of cocoa farmers and fostering a sustainable cocoa economy through the Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI).

The latest announcement, following an increase in cocoa producer prices by both countries, marks a significant step towards addressing long-standing market inefficiencies that have left farmers earning below their production costs.

In a joint statement released on October 2, the CIGCI emphasized that the initiative, established in 2019, seeks to counter the volatility of the global cocoa market. Prices have historically fluctuated below the cost of production, prompting the two countries to collaborate in stabilizing the sector and ensuring that farmers earn a living income.

The initiative, supported by Ivorian President Alassane Ouattara and Ghana’s President Nana Akufo-Addo, aims to give cocoa producers a stronger voice on the global stage and ensure better policy coordination.

Central to these efforts is the Living Income Differential (LID), introduced by Côte d’Ivoire and Ghana to guarantee a premium for cocoa, improving farmers’ earnings. The LID has been a key lever in advocating for higher prices, with the CIGCI noting that the conversation around cocoa pricing has shifted from being a “taboo” subject to a central theme in global discussions about the sustainability of the commodity.

“Today, the notion that fair pricing is integral to sustainability has gained broad recognition. However, much work remains to ensure cocoa is sustainable across all dimensions, particularly the prices paid to farmers,” the statement noted, in the context of International Cocoa Day 2024.

RelatedPosts

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

The cocoa sector faces multiple challenges, including ageing plantations, disease outbreaks such as the Cocoa Swollen Shoot Virus, and increasing cross-border smuggling. These supply-side risks are compounded by growing demand-side pressures for more stringent regulation of sustainable production in global supply chains.

In response, Côte d’Ivoire and Ghana are implementing national traceability systems and working towards the African Regional Standard for Sustainable and Traceable Cocoa to ensure compliance with sustainability criteria.

Both countries are also taking joint actions to tackle smuggling and align cocoa pricing and sales systems. “Delivering sustainable cocoa and ensuring a living income to farmers, regardless of market price fluctuations, remains our horizon,” the CIGCI stated.

Cocoa is a key export for both Côte d’Ivoire and Ghana, contributing significantly to their economies. Yet, the disparity between the global value of the cocoa supply chain and the incomes of farmers has long been a source of tension.

According to industry estimates, farmers in both countries have typically received less than 6% of the retail price of chocolate products, a gap that the CIGCI’s interventions aim to reduce.

As the CIGCI continues to advocate for cocoa producers, it has set its sights on making cocoa the world’s first fully sustainable commodity, an aspiration that hinges on the support of global stakeholders.

Both countries believe that through coordinated efforts and improved transparency in the sector, the livelihoods of cocoa farmers can be transformed, ensuring the long-term sustainability of the cocoa economy.

Tags: CocoaCote d’Ivoire-Ghana Cocoa Initiative (CIGCI)Living Income Differential (LID)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Specialised Financial Courts to Prosecute Persons Indicted in Auditor General’s Annual Report, Says President Mahama

Top 50 Mining Companies Surge to New Record Near $2 Trillion Valuation

Trending

Banking & Finance

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach Shareholders of GCB Bank PLC may have to...

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

October 21, 2025

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

October 21, 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.