Business News of Monday, 29 April 2019Source: mynewsgh.comGhana will never reduce cocoa prices – COCOBOD replies IMFChief Executive Officer of COCOBOD, Joseph Boahen AidooThe authority responsible for producer price of cocoa beans in the country has sent a strong response to the International Monetary Fund (IMF) saying it will not reduce prices of cocoa in the country as being directed. COCOBOD’s last producer price review for the year 2016/2017 season was from GH¢ 6,670 per tonne to GH¢7, 520. Meanwhile IMF reports indicates a reduction is needed this time around to reflect the changes in cocoa price on the international market. According to IMF, it has become critical for government to reduce the producer price of cocoa to ensure that the Ghana Cocoa Board (COCOBOD’s) current funding gap of GH¢1 billion does not expand. The outfit added however, it cannot guarantee whether cocoa prices can be maintained or not.

Source: GhanaWeb April 29, 2019 07:30 UTC