Government to ensure 50% of cocoa is processed locally – COCOBOD

The Ghana Cocoa Board (COCOBOD) has stressed on government’s resolve to ensure that 50 percent of cocoa produced in the country is also processed locally.

According to the Public Affairs Director of the institution, Fiifi Boafo, government has earmarked a number of measures to achieve the feat.

Giving an address at the Grand National Finals of the ONGA Cook Art 2021, Boafo explained the move would be stimulated by the value of the chocolate market as compared to that of raw cocoa beans.

“Ghana and the Ivory Coast together produce about 60% of the world’s cocoa. The entire value of raw cocoa beans worldwide is estimated to be US$12 billion”

“On the other hand, the chocolate market is valued US$110 billion and this indicates that adding value to our cocoa comes with higher returns than exporting raw cocoa beans,” he stated.

The Public Affairs Director of COCOBOD added that “It is for this reason that the government of Ghana has decided to implement measures that will make it possible for not less than 50% of cocoa produced in the country to be processed locally for local consumption and export.”

Fiifi Boafo also urged all to take advantage of the nutritional value and benefits of processed cocoa from Ghana.

“Ghana’s cocoa industry belongs to all Ghanaians. The potentials and opportunities within the sector are there for you to explore and take advantage of, based on your skill set, we must take up the challenge and become cocoa entrepreneurs aside cocoa farming. I can on behalf of the management of COCOBOD promise you the fullest cooperation when one comes up with any such intervention.”