Ghana Cocoa Board (COCOBOD) CEO Joseph Boahen Aidoo addressed concerns from some Civil Society Organizations (CSOs) regarding the use of forward sales for cocoa beans. He emphasized the importance of this strategy for the sector’s stability.
Forward Sales: A Calculated Approach
Mr. Aidoo explained that forward sales are a deliberate tactic for managing risk and stock levels. He highlighted the benefits for both buyers and sellers when compared to spot sales (selling on the immediate market). He acknowledged a disruption in 2023 due to El Nino forecasts that caused price fluctuations, but maintains that forward sales are generally more favorable.
Boosting Yields: Hand Pollination and Technology
While market prices are strong, Mr. Aidoo urged farmers to adopt hand pollination, a technique that has significantly increased yields and income for some farmers since its introduction in 2017. He also recommends motorized tools like slashers and pruners to improve sunlight and air exposure for trees, further enhancing fruit production.
Maximizing Profits: Practices for Success
Mr. Aidoo stressed the importance of maximizing yields for farmers to fully benefit from current market prices. He encourages widespread adoption of hand pollination, aiming for harvests between 20-30 bags per hectare compared to the typical 5-8 bags with natural pollination.
Sustainable Practices: Moving Away from Harmful Chemicals
The COCOBOD discourages the use of “cocktail chemicals,” a practice of mixing insecticides and fungicides. Instead, they recommend using poultry manure to enrich soil nutrients for healthier cocoa production.
By promoting these practices, the COCOBOD aims to ensure the long-term growth and sustainability of Ghana’s vital cocoa sector.
