The Ghana COCOBOD has said it was breaking new grounds that would enable Ghana to maximise its cocoa returns through diversification of its markets and investing more in the industry abroad.
At a press briefing in Accra on recent developments, Mr Isaac Osei, Chief Executive of the Board said the move followed current world demand and taste for Ghana’s premium quality cocoa bean that some European and Asian countries had shown.
He said countries such as Cuba, Turkey, China and Khagistan had shown great interest to trade on commercial lines with Ghana. Some of them, he said, had placed request for the importation of Ghana’s cocoa bean.
“We have to look for opportunities for investment elsewhere and have a stake in what goes on in the world at large. Ghana is not making enough money as it should, so we have to move from being a primary producer and start the process of looking outward,” he said.
He said: “They will focus more in investing into the tertiary sector where cocoa is converted into powder and chocolate products for maximum returns.”
Mr Osei said Cuba, which produced similar quality cocoa beans like Ghana and with a production capacity of only about 200,000 tonnes had placed a request to import about 25,000 tonnes.
He said there was the need to closely consider Cuba’s request and devise the means of forging links on commercial lines.
Last year Ghana’s production capacity was 600,000 tonnes and this year it had been projected at 620,000 tonnes by the end of the crop season.
Wednesday, July 11, 2007
COCOBOD to invest more abroad
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