Ghana’s cocoa board selects new CEO, targeting greater farmer support and increasing local crop processing
Ghana cocoa production. Pic: Shutterstock
Ghana’s governing cocoa board, Cocobod, has elected a new CEO, Dr Randy Abbey, who has confirmed that it intends to focus on driving domestic demand for chocolate through increasing levels of processing in the country, writes Neill Barston.
The senior executive, who was appointed at the end of last month following a reported decision by the outgoing postholder, Joseph Boahen Aidoo to step down early from the role he was due to relinquish this summer, has signalled the organisation’s ongoing intent to further enhance support for the sector on a local level.
As Cocobod reported for its national chocolate week last week, its new CEO, who had reportedly occupied positions as managing director of Ignite Media Group, as well as serving on the executive council of the Ghana Football Association, believed that farmers should be gaining more for their labours in the sector. This is against a backdrop which has seen cocoa prices surge again to $12,000 a tonne in the past month.
Meanwhile, farmgate prices in both Ghana and neighbouring Ivory Coast, which are set by the government, remain at an equivalent of under $2,000 a tonne, less than 20% of what is being made on international futures markets for trading the key commodity crop.
In a locally reported speech on his behalf at chocolate week, Randy Abbey stated: “Ghana has long been recognised as one of the world’s leading producers of cocoa, yet we are yet to reap the full benefits of this beloved crop in terms of domestic consumption.”
According to Cocobod, he went on to explain that through increasing domestic chocolate consumption, this would reduce reliance on global markets, but also boost farmer income.
As Confectionery Production magazine has previously reported, Ghana’s government has previously stated its intent to raise chocolate processing and consumption levels in the country, with per capita levels now up to 0.9kg per year in the country. This is against a European average of around 5kg per capita a year.
The policy shift in Ghana comes as the latest International Cocoa Organisation (ICCO) releases its latest monthly report, which highlighted ongoing price volatility within the market, which is further impacting on cocoa production within West Africa.
Notably, the report stated: “Supplies for the ongoing season are above that of 2023/24 but concerns remained as the weather during January was reported to be less conducive for the development of the mid-crop in Côte d’Ivoire. As such, prices at the start of the month were high. By mid-January, it was observed that a turning point in cocoa demand may have started as the major regional cocoa associations in Europe, North America and Asia reported a decline in their quarterly cocoa grindings data.”
