- Ghana's Cocoa Board Chief, Joseph Boahen Aidoo, has expressed concerns about the financial burden new EU regulations on deforestation will place on cocoa farmers and producing countries.
- The new regulations require countries like Ghana to implement stricter measures to protect the environment and ensure cocoa is ethically sourced.
- Increase the overall price of cocoa from Ghana, Cote d'Ivoire, and Cameroon.
Ghana’s Cocoa Board Chief, Joseph Boahen Aidoo, has expressed concerns about the financial burden new EU regulations on deforestation will place on cocoa farmers and producing countries.
EU Aims for Sustainable Cocoa:
The new regulations require countries like Ghana to implement stricter measures to protect the environment and ensure cocoa is ethically sourced. While acknowledging the positive intentions, Mr. Aidoo highlights potential economic and ethical issues.
Ghana Already Proactive on Sustainability:
Ghana has already completed its Cocoa Management System (CMS) – a key element for cocoa traceability – demonstrating prior commitment to sustainability.
Cost of Compliance a Major Concern:
Mr. Aidoo emphasizes the significant costs associated with complying with the new regulations. These costs could:
- Increase the overall price of cocoa from Ghana, Cote d’Ivoire, and Cameroon.
- Create social and economic challenges for farmers already facing hardship.
Who Pays for Sustainability Measures?
Mr. Aidoo argues that the EU regulations don’t address who bears the financial responsibility for implementing new technologies and tools. These are often expensive and beyond the means of individual farmers.
Potential for Higher Cocoa Prices:
Since the regulations don’t factor in these costs, Mr. Aidoo suggests that the burden will fall on cocoa producers, potentially leading to higher cocoa prices for Ghana, Cote d’Ivoire, and Cameroon.
