Minister of Food and Agriculture, Dr. Bryan Acheampong has taken on the role of chairman for the Cote d’Ivoire-Ghana Cocoa Initiative (CIGCI).
This transition occurred during the 5th Steering Committee Meeting held in Abidjan, Cote d’Ivoire, where Dr. Acheampong replaced Ivorian counterpart, Mr. Kobenan Kouassi Adjourmani.
The Cote d’lvoire-Ghana Cocoa Initiative(CIGCI) was established in March 2018 as a collaborative effort between Ghanaian President Nana Akufo-Addo and Ivorian Head of State Alassane Ouattara.
Its primary objective is to exert pressure on international cocoa buyers and trade houses to ensure a minimum floor price of $2,600 per tonne for cocoa beans produced in both countries.
Under Acheampong’s leadership, the CIGCI aims to accomplish several key milestones.
These include finalizing and handing over the permanent headquarters of the Initiative in Accra, expanding membership to include other African cocoa-producing nations, and implementing a comprehensive restructuring plan.
Additionally,the CIGCI will introduce the West African Standards for sustainability and cocoa traceability systems.
One of the pivotal achievements of the CIGCI has been the introduction of the Living Income Differential (LID), set at USS400.00 per tonne, which will be applied to cocoa sales starting from the 2020-2021 season.
This innovative trading mechanism emerged following extensive consultations with stakeholders from trade houses, cocoa purchasing companies, chocolatiers, the World Cocoa Foundation and the International Cocoa Organization.
Dr. Acheampong, cognizant of the significance of his new role,expressed his commitment to advancing the interests of cocoa producers and fulfilling the vision of Presidents Ouattara and Aufo-Addo.
Emphasizing the importance of collective responsibility,he urged all participants to uphold the rules and regulations of the initiative.
Under his stewardship as Ghana’s Minister of Food and Agriculture,the country has already taken significant steps to improve farmer remuncration and combat cocoa smuggling.
Notably, Ghana has increased the state-guaranteed cocoa price by over 63%,with farmers now set to receive 20,943 Ghana cedis (S1,837) per tonne for the 2023/2024 season, compared to 12,800 Ghana cedis in 2022.
As Dr. Acheampong assumes the chairmanship of the Cote d’lvoire-Ghana Cocoa Initiative, this development bodes well for the welfare of cocoa farmers and signifies a strong commitment to regional cooperation.
With his leadership,the initiative is poised to make a lasting impact on the cocoa industry, ensuring sustainability and financial prosperity for farmers in both countries.
