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Ghana
Cocobod faces soaring fertiliser costs and large-scale illicit resales

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“West African cocoa cartel battles with the traders”

Ghana, Ivory Coast

West African cocoa cartel battles with the traders

By jointly introducing a premium of $400 per tonne on cocoa beans in autumn 2020, Ivory Coast and Ghana were seeking to ensure that cocoa producers' revenues were maintained. In so doing, however, they sparked off an open war with the big commodity traders, who have since taken steps to get round the measure and avoid paying the premium. This battle of wills has paralysed a sector which has already been badly affected by Covid-19 and speeded up the transformation of the trading sector, encouraging Ghana and Ivory Coast to trade their cocoa beans on their own account. [...]

Cocobod hasn't changed the price it charges cocoa farmers for fertiliser even though the international market price has gone through the roof. Meanwhile the illegal resale of the heavily subsidised fertilisers that it distributes to its Ghanaian affiliates is flourishing. Those diverted volumes often cross the Ivorian border. [...]

Published on 12.09.2022 at 05:00 GMT Reading time 2 minutes

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Commodity traders

Read this article in our running story

“West African cocoa cartel battles with the traders”

Ghana, Ivory Coast

West African cocoa cartel battles with the traders

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Agyemang Dwomoh
Chemico
Chobi Ghana
Cocobod
Conseil Cafe Cacao
Joseph Boahen Aidoo
Office Cherifien des Phosphates
Owusu Afriyie Akoto
PhosAgro
RMG concept
RMG Ghana
Solevo
Uralchem
Yara International

Ghana, Ivory Coast
Accra forced to align itself with Abidjan on cocoa prices

The Ghanaian Cocoa Board is in the process of performing a U-turn on cocoa prices. Having initially announced that it would not change the farm gate price this season, it has had to back down in the face of pressure from Ghanaian grower associations, who have taken advantage of Ivory Coast's decision to increase its own farm gate price by 9%.

Free access Commodity traders 07.10.2022

Australia, Morocco, Western Sahara
OCP resumes Western Sahara phosphate exports to Australia

Faced with supply difficulties linked to Russia's war on Ukraine, the Australian fertiliser producer Incitec Pivot has restarted its imports of phosphates from the Boucraa mine in the Sahara, operated by OCP. It had stopped sourcing there in 2016, after protest from Scandinavian shareholders.

Subscribers only Mining, Commodity traders 04.10.2022

Ghana
Cocobod grapples with cocoa farmers' associations

Communications between the cocoa sector regulator and the main bean producer organisations have become strained. The latter reproach the public body for not consulting them, particularly on the re-evaluation of the on-farm price, unchanged since 2019.

Subscribers only Commodity traders 22.09.2022

Inner circles | Ghana, Ivory Coast
New cocoa initiative still far cry from Ouattara and Akufo-Addo's chocolate heaven

The Ivory Coast-Ghana Cocoa Initiative (ICCIG), based in Accra since September 2021 and headed by the experienced Ivorian Alex Assanvo, is struggling to bring multinationals on board. It is also trying to persuade the two regulatory bodies to radically shift their priorities.

Subscribers only Commodity traders 29.07.2022

Alex Pierre-Arnaud Assanvo, secretary-general of the Ivory Coast Ghana Cocoa Initiative.

West Africa
Abidjan and Accra allied against multinationals in new cocoa war

The heads of Ghana Cocobod and Ivory Coast's Conseil Café Cacao were in Accra last week to refine their joint strategy in the face of the industry's trading giants and industrialists, who are considering diversifying their supplies elsewhere.

Subscribers only Commodity traders 12.07.2022

Inner circles | Ghana
The Cocoa Board, the force powering Ghana's economy

Ghana produces, just behind Ivory Coast, almost 45% of the world's cocoa. At the head of this "brown gold" boon is the Ghana Cocoa Board, or "Cocobod", headed since 2017 by Joseph Boahen Aidoo, a loyal supporter of President Nana Akufo-Addo.

Subscribers only Commodity traders, Business 16.07.2021

The Ghana Cocoa Board (Cocobod) headquarter, in Accra.

Spotlight | Angola
Local fertiliser importers despair as Lourenço procrastinates over tender

The Luanda government was to organise an international tender to help local blenders secure fertilisers from overseas in order to boost the agricultural sector. After getting off to such a slow start, its seems highly unlikely it will be finalised in the short term.

Subscribers only Mining 16.10.2020

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Agyemang Dwomoh
Chemico
Chobi Ghana
Cocobod
Conseil Cafe Cacao
Joseph Boahen Aidoo
Office Cherifien des Phosphates
Owusu Afriyie Akoto
PhosAgro
RMG concept
RMG Ghana
Solevo
Uralchem
Yara International

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Cocobod faces soaring fertiliser costs and large-scale illicit resales

West African cocoa cartel battles with the traders

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West African cocoa cartel battles with the traders

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Ghana Cocobod faces soaring fertiliser costs and large-scale illicit resales

West African cocoa cartel battles with the traders

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West African cocoa cartel battles with the traders

Set up email notifications for these topics

Ghana, Ivory Coast Accra forced to align itself with Abidjan on cocoa prices

Australia, Morocco, Western Sahara OCP resumes Western Sahara phosphate exports to Australia

Ghana Cocobod grapples with cocoa farmers' associations

Inner circles | Ghana, Ivory Coast New cocoa initiative still far cry from Ouattara and Akufo-Addo's chocolate heaven

West Africa Abidjan and Accra allied against multinationals in new cocoa war

Inner circles | Ghana The Cocoa Board, the force powering Ghana's economy

Spotlight | Angola Local fertiliser importers despair as Lourenço procrastinates over tender

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Guinea
Behind the scenes of Mamadi Doumbouya's offensive on Russian miner Nordgold

DRC
Dan Gertler's billions of dollars in royalties at heart of huge legal battle

Ghana
Cocobod faces soaring fertiliser costs and large-scale illicit resales

Ghana, Ivory Coast
Accra forced to align itself with Abidjan on cocoa prices

Australia, Morocco, Western Sahara
OCP resumes Western Sahara phosphate exports to Australia

Ghana
Cocobod grapples with cocoa farmers' associations

Inner circles | Ghana, Ivory Coast
New cocoa initiative still far cry from Ouattara and Akufo-Addo's chocolate heaven

West Africa
Abidjan and Accra allied against multinationals in new cocoa war

Inner circles | Ghana
The Cocoa Board, the force powering Ghana's economy

Spotlight | Angola
Local fertiliser importers despair as Lourenço procrastinates over tender