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Ghana: Fall in cocoa transport costs to Europe


Friday, 12 October 2018

Ghana: Fall in cocoa transport costs to Europe

In Ghana, freight charges for shipping cocoa to Europe will fall from 39 pounds a tonne to 35 pounds during the 2018/2019 season. This decrease, announced by the Ghana Shippers Authority (GSA), is a form of compensation for the country, which lost nearly 2 billion Cedi's in the wake of the fall in world cocoa prices in 2017. “The price of cocoa is down by 40% so we think a 9.4% reduction somehow compensates for it,” said Benonita Bismark (photo), Executive Director of the GSA. Ghana exports close to 700,000 tonnes of premium quality beans a year from its main crop harvest, mostly to Europe, and reserves 20% of the volume of the light crop harvest for local grinders.

Source: agenceecofin.com