Why is China's cocoa pricier? - Oteng-Gyasi calls for inves

Why is China's cocoa pricier? - Oteng-Gyasi calls for investigation


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An industrialist and economist, Mr Tony Oteng-Gyasi, has called for urgent investigations into how China earned a better price for its first consignment of cocoa export than what Ghana received for its premium cocoa beans.
He told the Graphic Business on April 23 that the investigations must be immediate and help to establish why 500 kilogrammes (kg) of the bean fetched China $3,600 when Ghana and Cote d'Ivoire, which produced more than half of the world's cocoa, currently receive an average of $2,400 for a tonne of cocoa.
One tonne is equivalent to 1,000kg.
"The Ghana Cocoa Board (COCOBOD) should not take this without an investigation," Mr Oteng-Gyasi, who chairs the Board of the  Ghana Integrated Aluminium Development Corporation (GIADEC), said in an interview.

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