The Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI) has reaffirmed its dedication to promoting the interests of its member nations, emphasizing the potential of making cocoa a truly sustainable commodity if all stakeholders work collaboratively.
In a press release issued on October 2, the CIGCI stated, “We remain committed to advancing the cause of our members and believe that, with the cooperation of relevant stakeholders, cocoa can become the first genuinely sustainable commodity market. This transformation will ensure profitability for all, particularly for the cocoa farmers, who are essential to the existence of cocoa and chocolate.”
The CIGCI was established to unify the efforts of Côte d’Ivoire and Ghana, enhancing policy coordination to serve the collective interests of their populations. This initiative reflects the shared commitment of Ivorian President SEM Alassane Ouattara and Ghanaian President HE Nana Akuffo-Addo to create a balanced, sustainable cocoa sector with farmers’ incomes at its core.
A key aspect of this collaboration is the implementation of the Living Income Differential (LID) mechanism by both countries. The mechanism highlights the importance of global cocoa stakeholders paying closer attention to the economic sustainability of cocoa farmers, recognizing that without this, the sector’s transformation is unattainable.
The release further noted, “Both nations are joining forces to combat diseases like the Cocoa Swollen Shoot Virus that threaten cocoa farms. Additionally, continuous discussions are taking place to ensure cocoa pricing and sales systems are aligned, while joint measures are being taken to strengthen efforts against cross-border cocoa smuggling. Our goal is to secure a sustainable cocoa economy that guarantees farmers a living income, despite market price fluctuations.”
The CIGCI also pointed to recent increases in cocoa producer prices in Côte d’Ivoire and Ghana as a reflection of their ongoing efforts to improve the livelihoods of farmers. These price adjustments, it said, represent “a crucial step towards ensuring that cocoa prices reflect their true value, addressing decades of volatile market pricing.”
In marking International Cocoa Day 2024, the CIGCI urged the global community to recognize the need for further action to ensure cocoa’s sustainability across all dimensions, particularly in terms of prices paid to farmers. It emphasized that the industry’s success depends on overcoming challenges like aging plantations, disease, competing land uses, and smuggling.
The press release concluded by highlighting the collaborative development of national traceability systems in Côte d’Ivoire and Ghana, as well as the implementation of the African Regional Standard for Sustainable and Traceable Cocoa, to ensure the future sustainability of the cocoa industry.
SOURCE: DEW360.NET
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