Monday, June 27, 2022
African Cocoa Growers Take Hard Line on Prices – Better Ones Or Else!
By Sentinel News Service
Published June 18, 2019

Courtesy phot

Strike! That’s the sound of the world’s top two producers of cocoa who say they are suspending their sales for better prices.

The governments of Ivory Coast and Ghana are trying this time-honored strategy to address the imbalance between farmers’ income and money made by foreign commodity markets who scoop up most of the profit.

If the strategy sounds familiar, it’s the same one described in the Greek play Lysistrata where the women withheld affection from their husbands in order to secure peace and end the Peloponnesian War.

Currently, the majority of money does not reach the farmers who live in poverty.


Globally, 85% of the market is controlled by companies such as Kraft, Mars, and Nestlé.

But according to Ed Croply, a journalist, Ivorian President Alassane Ouattara and his Ghanaian counterpart Nana Akufo-Addo would do better to focus on processing cocoa beans, rather than just growing them. As with other commodities like diamonds or crude oil, the labor-intensive work happens elsewhere.

Of the $100 billion spent annually on chocolate, the African Development Bank reckons the continent keeps just $5 billion.

A meeting in the Ivory Coast in Abidjan on July 3 will discuss how to implement this measure for the next two years crops.

Categories: Economy | International | News (Business)
Tags: | | | | | | |

Get the Los Angeles Sentinel App!

Since 1933 The Voice of Our Community Speaking for Itself.
89 Years of LA Sentinel.
Black News.

LA Sentinel
in your pocket:


LA Watts Times

© 2022 Los Angeles Sentinel All Rights Reserved • A Bakewell Media Publication

AboutArchivesContact UsCorrections & MisprintsMedia Kit

Terms of ServicePrivacy Policy

LA Watts TimesTaste of Soul

News & Alerts by Email!

Stay up to date by getting the latest LA Sentinel News and Alerts sent to your email inbox.

Close / I'm already on the list

Subscribe Today!

Don't be limited anymore! Subscribe Now »

** Existing subscribers, please Login / Register for Digital »

Subscribe to The Los Angeles Sentinel for only $5.99 $3.99 per month, with 1 month free!

Relax in comfort each week as you read the printed newspaper on your own time, delivered weekly to your home or office. This subscription also includes UNLIMITED DIGITAL ACCESS for all of your devices. Includes FREE shipping! One easy payment of $3.99/month gets you:

Subscribe Now »