How Ghana Can Get Full Value From Its Cocoa Beans

Chocolate production for the domestic consumer market is discouraged by an extremely high tax rate of nearly 60% on domestic sales of chocolate and semi-finished cocoa products. For example, natural cocoa butter is presently sold at an export price of around U.S.$4,600 per tonne but sold locally at around U.S.$7,300 per tonne. Instead of requiring Ghanaian cocoa factories to borrow expensive U.S. dollars to buy cocoa beans, the Cocoa Marketing Company could market primary processed cocoa products to overseas buyers on behalf of domestic processors. Making sure that the product is bought, would guarantee the U.S. dollar income needed to pay for the cocoa beans that go into the products, writes Sophie Van Huellen for The Conversation.

InFocus

cocoa products (file photo)

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