Ghana liberalises cocoa

4 November 1999



Ghana liberalises cocoa

GHANA is embarking on the liberalisation of the countrys cocoa industry.

It contributes about 14% of the countrys gross domestic product and is generally regarded as a backbone of the economy.

The Financial Times weighs up the privatisation moves.

The World Bank has argued the country is paying far more supporting the state-run Cocoa Marketing Board, the Cocobod, than is being earned in return for higher prices obtained by producers.

It says the government should concentrate on improving infrastructure for farmers, upgrade roads to marginal areas, reduce taxes and encourage value-added processing.

• Liberalisation hits cocoa futures, FWi, 05 October, 1999
• Cocoa futures sink to six-year low, FWi, 20 April, 1999
• Governments hand in Ghanaian cocoa business, FWi, 22 June, 1998
  
• Financial Times 04/11/99 page VII (Ghana survey)