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Surge in cocoa prices is attributed to a decline in production, according to the CEO of COCOBOD

The CEO of the Ghana Cocoa Board (COCOBOD) attributes the recent increase in cocoa prices on the global market to a decrease in cocoa production in major producer countries, including Cote d’Ivoire and Ghana.

Joseph Boahene Aidoo noted that this decline in cocoa production is primarily driven by climate change, notably a decrease in rainfall and a rise in heat intensity compared to previous years.

He emphasized the necessity for Ghana to adapt to the challenges posed by climate change. Aidoo highlighted that existing infrastructure in the country could facilitate both adaptation to and mitigation of the effects of climate change in cocoa cultivation.

During his address on the theme “The Impact of Climate Change on the Cocoa Sector; Adaptation and Mitigation Measures; The Role of the Worker,” Mr. Aidoo emphasized the crucial role of CRIG workers in mitigating climate change effects on cocoa production.

He expressed confidence that Ghana could effectively tackle these challenges, particularly with the existing industrial harmony between CRIG and other units within COCOBOD.

The COCOBOD CEO expressed optimism about the collaborative efforts between management and workers of CRIG in overcoming the challenges posed by climate change.

Mr. Aidoo highlighted that COCOBOD, along with its agencies and the government, has played a crucial role in ensuring stable prices and a reliable market for cocoa farmers.

He further emphasized that Ghana is well-prepared to address the challenges posed by climate change, as the country possesses the essential infrastructure for both adaptation and mitigation in cocoa cultivation.

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