Business News of Friday, 1 November 2024
Source: reuters.com
Cocoa farmers in Ghana filed a complaint with COCOBOD, highlighting demands for a “living income” and raising concerns about deforestation, child labor, and pesticide use.
Signed by 30 farmers, the complaint tests a grievance mechanism mandated by the African Development Bank (AfDB) for a $600 million loan in 2019.
Farmers call on COCOBOD to enforce higher prices to support living incomes, transparency in supply chains, sustainable farming practices, and bans on hazardous pesticides.
Despite COCOBOD’s recent 45% price increase for the 2024/25 season, many farmers struggle to earn a sustainable income from cocoa production.