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GHANA PRESIDENT ENDS RAW BEAN CACAO TRADE WITH SWITZERLAND

We’re determined in Ghana, to ensure the succeeding generations of Ghanaians do not become victims or pawns of international economic order, but her beneficiaries.

After discussing the centuries-long relationship Ghana has with Switzerland through missionaries and colonialism, Ghana’s president, Nana Akufo-Addo announced the end of trading raw cacao beans with Switzerland.

Western/European countries have capitalised upon Ghanain raw materials by paying bottom dollar for their raw materials and now the Ghanain president explained they must advance their internal industrial capabilities, and process their raw materials within their country.

After witnessing American companies such as Hershey also capitalise on cheap Ghanain cacao, it wouldn’t surprise me if changes occurred with the US-Ghana cacao trade as well.

The CCC (Coffee and Cacao Council of Cote d’Ivoire) believe Hershey avoided paying the Living Income Differential which aims to eliminate poverty within the farming community in Ghana.

This differential requires chocolate companies to pay an additional $400 per ton of cacao. Luxury goods should be bought at a price that supports the farmer after all. Hopefully, this will lead to greater independence for the Ghanaian economy as they focus on developing the capabilities to process more of their own raw materials and gain more control over the cocoa value chain.

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