The sale of Cocoa Beans has resumed following the suspension by the two countries responsible for 65% of the World’s Cocoa Production by the industry’s regulators in Ghana and Cote d’Ivoire.
The sale of Cocoa was suspended as the home countries wanted the local farmers to earn more from the immense profits generated from the production and exportation of the produce.
On Sale resumption, buyers will now be able to resume negotiations on the purchase of Cocoa from Ghana and Ivory Coast. Going forward buyers will now be enforced to add $400 to every tonne.
The new payment structure will go into effect starting by the 2020/21 season