Ghana Cocoa Buyers Sidelined as Exporters Fill Funding Gap

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Ghana Cocoa Buyers Sidelined as Exporters Fill Funding Gap

^{Published on 2024-12-13 10:01:04 - bnnbloomberg}

Ghana's cocoa regulator's growing dependence on top exporters to help finance bean purchases is leaving local buying companies marginalized and making the world's No. 2 grower and global markets increasingly reliant on big foreign players.

The article from BNN Bloomberg discusses the current situation in Ghana's cocoa market, where local buyers are being sidelined due to a funding gap. Ghana, one of the world's leading cocoa producers, is experiencing a significant shortfall in cocoa supply due to various factors including adverse weather conditions and diseases affecting cocoa trees. As a result, international cocoa exporters have stepped in to fill the funding gap by providing financial support directly to cocoa farmers, bypassing local buyers. This shift has led to a situation where these exporters are now directly purchasing cocoa at the farm gate, which has marginalized local traders and intermediaries. The article highlights the economic implications for local businesses, the potential long-term effects on the cocoa supply chain, and the government's efforts to address the funding issues to stabilize the market.

Read the Full bnnbloomberg Article at:
[ https://www.bnnbloomberg.ca/investing/commodities/2024/12/13/ghana-cocoa-buyers-sidelined-as-exporters-fill-funding-gap/ ]

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Ghana Cocoa Buyers Sidelined as Exporters Fill Funding Gap