November 12, 2019 / 9:12 AM / a month ago

Ghana has sold 200,000T of cocoa with LID for 2020/21-Cocobod

JOHANNESBURG, Nov 12 (Reuters) - Ghana, the world’s number two cocoa producer, has sold nearly 200,000 tonnes of cocoa for the 2020/21 season, with prices including a new $400 per tonne living income differential (LID), the head of the cocoa regulator told Reuters.

Joseph Boahen Aidoo, the CEO of Cocobod, said Ghana was expecting to sell forward around 650,000 tonnes of next season’s crop. The LID was introduced by Ghana and top producer Ivory Coast in an effort to raise farmers’ incomes.

Reporting by Joe Bavier, editing by Louise Heavens

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