- Ghana and Côte d'Ivoire, the world's leading cocoa producers, have established a joint headquarters to boost their cocoa industries
- With headquarters in Ghana, CIGCI will work on issues like pricing, traceability, regulations, and market outlook for cocoa.
- The global cocoa market suffers from price volatility and a decline in real cocoa prices over the past decades.
Ghana and Côte d’Ivoire, the world’s leading cocoa producers, have established a joint headquarters to boost their cocoa industries and improve the lives of cocoa farmers.
A Powerful Partnership
- This collaboration, called the Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI), aims to address common challenges in the cocoa sector.
- With headquarters in Ghana, CIGCI will work on issues like pricing, traceability, regulations, and market outlook for cocoa.
Shared Vision for a Prosperous Future
- Leaders from both countries believe CIGCI is a significant step towards a more prosperous cocoa economy.
- Their goals include:
- Increased income for cocoa farmers
- Modernization and industrialization of the cocoa industry
- A sustainable cocoa sector that protects the environment and respects human rights
Revolutionizing the Cocoa Supply Chain
- This initiative presents an opportunity to create a more valuable cocoa supply chain for both Ghana and Côte d’Ivoire.
- The leadership of both countries is committed to working together to achieve CIGCI’s objectives.
Background: The Need for Change
- The global cocoa market suffers from price volatility and a decline in real cocoa prices over the past decades.
- Farmers receive a small fraction of the final cocoa product’s price, leading to poverty for many small-scale producers.
- Environmental and social issues like deforestation and child labor further threaten the sustainability of the cocoa sector.
CIGCI: A Path Towards a Sustainable Future
- Ghana and Côte d’Ivoire, representing over 60% of global cocoa production, are determined to transform the cocoa business model.
- CIGCI aims to achieve fair prices for cocoa farmers, improve environmental practices, and promote social responsibility.
- The initiative is open to collaboration with other African cocoa-producing countries.
This joint effort by Ghana and Côte d’Ivoire represents a significant step towards a more sustainable and prosperous future for the cocoa industry.
