Ghana Cocoa Buyers Lack Funds to Purchase Farmer Beans
Licensed buyers in Ghana lack the funds to purchase cocoa beans despite a recent price cut. Farmers report that payments for past deliveries remain unpaid.
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Xurve View
Licensed cocoa buyers in Ghana are currently facing a severe shortage of funds to purchase beans from farmers, despite a recent government decision to lower the fixed price of the commodity. Although the state reduced the farmgate price by nearly 30% earlier this month to 41,392 cedis (approximately $3,797) per metric ton, the new rate remains significantly higher than the global market price of around $3,200. This pricing gap has left international traders with little incentive to buy, leading to a stockpile of at least 50,000 tons of unsold beans at various ports.
