Ghana has lost a total of $397.8 million in cocoa export revenue since May 1998 as a result of the steep decline in the world market price of the commodity, the Daily Graphic said in another front-page coverage.
The story says over the period, the commodity price has fallen from an average of $1,794 per tonne to about $800 per tonne, representing a loss of $994 per tonne, a record loss in 27 years.
Alhaji Mahama Iddrisu, Presidential Advisor, said at the opening of a two-day consultative meeting on the modalities for implementing the Abidjan Declaration – a consensus reached by four of the world’s leading producers, including Ghana, to destroy at least 250,000 tonnes of cocoa as from next crop season.
The paper quotes him as saying that Ghana welcomes the decision and would support the co-operative efforts of the African producers who contribute about 69 per cent of the world’s cocoa.
