February 13, 2017 / 5:43 PM / 9 months ago

Ghana's Cocobod to seek smaller loan for 2017/18 cocoa purchases

ACCRA, Feb 13 (Reuters) - Ghana’s Cocobod is in talks with international banks for a syndicated loan to cover cocoa purchases in the 2017/18 season, the regulator’s new head said on Monday, adding that it would likely seek less than the current season’s $1.8 billion.

“The figure depends on the crop forecast, the cedi exchange rate and the world market price of cocoa. But I don’t think we’d need $1.8 billion this year. The price of cocoa is now falling, so we’d look at all that,” Joseph Boahen Aidoo told Reuters. (Reporting by Kwasi Kpodo; Writing by Joe Bavier; Editing by Alexander Smith)

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