The Asian country is reported to have exported to Belgium its first batch of cocoa beans weighing 500 kg worth about $3,600.
In an interview with Citi Business News, the Public Affairs Manager of COCOBOD, Fiifi Boafo, indicated that “It’s been of concern, a concern in the sense that generally the cocoa market has been saturated and consumption does not seem to be growing as fast as production of cocoa so any new addition in terms of production is a matter of concern because higher production without commensurate consumption will force the price of cocoa downwards.”
But in a swift response, the sector minister has allayed the fears by Ghanaians, saying China cannot be a competition to Ghana in exporting cocoa to the international market.
Dr Owusu Afriyie Akoto stated that the quality of Ghana’s cocoa is not matched anywhere in the world.
According to him, the international market has opted to pay up to 25% premium on the price.
“They exported 450 kilogrammes, not even one tonne. Ghana produces between 800,000 and 900,000 metric tonnes. Cote D’Ivoire produces over two million metric tonnes, so that’s nothing really to worry about. In any case the quality of Ghana’s cocoa is not matched anywhere else in the world -that is why -the world market is prepared to pay 15 to 25% premium on the world market’s price for Ghana’s cocoa,” he said.