Farmers crack open cocoa pods and get the beans ready for harvest by hand. Obini produces nearly 16 bags of cocoa beans in a year, earning him around 1, dollars total, or the equivalent of three dollars a day.
A wage that in Ghana would place him in the lower-middle class. According to the non-profit Oxfam America, cocoa farmers around the world on average typically make even less — about three percent of the price of a chocolate bar.
In a country of 25 million people, the government of Ghana estimates some , families in the country are living in part by cocoa farming. The growing middle class in China, Brazil and India are creating the demand for the beans. There are many involved in the processing and all of them need to make some sort of money to keep their business viable. Cocoa farmers in West Africa, they are the least empowered of any of those actors.
The Ghanaian government sets the price for how much farmers get paid. Samuel Torbi, 38, has been farming for 16 years. Torbi used what money he had to purchase two acres of land. The ideal entry-level account for individual users.
Corporate solution including all features. Statistics on " Cocoa industry " The most important statistics. The most important statistics.
Further related statistics. Per capita consumption of cocoa beans in the U. Further Content: You might find this interesting as well. Statistics Per capita consumption of cocoa beans in the U. Topics Cocoa industry Chocolate industry U. Learn more about how Statista can support your business. March 16, In Statista. Accessed November 14, Statista Inc..
Accessed: November 14, Traders deliver excess supplies to the exchange when prices are higher than they can obtain elsewhere, and buyers can choose to take delivery of warehouse stocks when futures prices are weaker than those otherwise obtained in the cash market. Many see the demand for warehouse stocks as an indication that end users are unable to contract their future bean supplies from West Africa due to the uncertainty introduced by the planned price controls. The ICCO estimates stockpiles rose by 66, tonnes.
CSSV, which is spread by insects, causes productivity declines in the first year of infection and then typically kills the tree within four years. The recommended response is to remove infected trees and create a buffer zone around newly planted trees. Although the country has been dealing with the disease for many years, its impact was limited to central regions.
Losses have been offset by gains in other parts of Ivory Coast. A similar cut to Ivory Coast production would trim , tonnes of cocoa from world supplies. Near-complete global reliance on such a small microregion to produce cocoa beans makes the commodity particularly susceptible to supply shocks. It also gives the Ivorian and Ghanaian governments confidence that they can join forces to impose new price controls starting next year. Global cocoa buyers have very limited ability to shift to other origins to avoid higher costs.
Years of strong growth in Ivory Coast have so far masked the risks of geographic concentration of cocoa production and kept global prices in check. Toggle navigation Why Gro Intelligence? But the government has pledged to address these structural issues. Echoing the president's words, Trade and Industry Minister Alan Kyerematen says that industrialisation is a major tenet of government policy.
There are some local brands, like Golden Tree and artisanal label '57 Chocolate, but President Akufo-Addo's government still needs to do a lot of work to overcome production issues. His One District One Factory programme aims to kickstart industrialisation by providing the infrastructure for agribusiness. The establishment of processing plants in some of the big cocoa-growing areas is a key goal.
The fact that it has become easier for the private sector to invest in food processing is a welcome move, according to commodities expert Ekow Dontoh, who works for Bloomberg news. He also highlights the big tax rebate available to processing companies that set up in the country's free zones - designated areas to encourage economic activity - in a bid to help them export.
In principle we can say that there's been some good steps, but the full impact is yet to be shown in the economy. Perhaps when the path is fully cleared, the likes of Nana Aduna and Mr Dapaah will become part of the country's chocolate-exporting sector. Mr Dapaah says this is his ambition, which developed once he realised the imbalance in earnings between cocoa producers like his family and Western chocolate manufacturers and brands.
Ghana country profile.
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