Ivory Coast and Ghana Sign Agreement to Determine Global Cocoa Price | 10 Aug 2021

Ivory Coast and Ghana signs agreement to determine global cocoa price - The Ghanaian and Ivorian governments have signed an Agreement in Accra for the Cote D'Ivoire - Ghana Cocoa Initiative Secretariat. This achievement will define both countries' bargaining leverage as the world's leading cocoa producers in deciding cocoa prices globally. The world's two largest cocoa suppliers, the Ivory Coast and Ghana, account for approximately two-thirds of global production, yet they have little influence over worldwide cocoa prices, which have remained low in recent times due to overproduction.
The global chocolate market is estimated to be valued at more than US $100 billion, with a few multinational corporations dominating the market.

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