Cocoa production in Africa is set to take a turn for the better as AfDB begin plans to support producers
Among other planned interventions, the Bank is considering support to Ghana and Côte d’Ivoire to reduce the volatility of the international prices of cocoa. Côte d’Ivoire leads the world in the production and export of cocoa.
Ghana and Côte d’Ivoire are now at the final stages of discussions for AfDB support. A final deal is expected to be announced in the days to come.
But following high-level meetings between the governments of both countries and the AfDB President, some key agreements have already been made.
The Bank has agreed to assist the countries to establish a Cocoa Market Stabilization Fund and a Cocoa Exchange Commission for the management of production.
Illustration Photo: In 2012 Nestlé trained 21,000 cocoa farmers, distributed 1.1 million high-yielding cocoa plantlets, and sourced 38,000 tonnes of cocoa through the Nestlé Cocoa Plan. (credits: Nestlé / Flickr Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic (CC BY-NC-ND 2.0))