President Akufo-Addo has reiterated his dedication to nurturing a robust cocoa industry that places the well-being of cocoa farmers at the forefront.

His remarks were delivered during the formal inauguration of the permanent office of the Cote d’Ivoire-Ghana Cocoa Initiative in Accra.

Highlighting his government's achievements, President Akufo-Addo emphasised that his administration has implemented the highest cocoa producer price in the nation's history.

He recalled the pivotal 2019 gathering in Accra between Ghana and Cote d’Ivoire, where discussions centered on crucial matters vital to the sustainability of the global cocoa industry supply chain.

This dialogue resulted in the adoption of a living income differential for cocoa producers in both countries, entailing an additional payment of $400 per ton of cocoa sold by the two nations on the world market price, effective from the 2020/2021 season.

““The international cocoa market justifies our course of action. What we thought was impossible only two years ago is happening now,” he stated.

However, he also underscored the pressing need for collaborative efforts between Ghana and Cote d’Ivoire to confront the various challenges confronting the cocoa industry.

Despite the current surge in market prices, President Akufo-Addo emphasised the emergence of new challenges, prompting a reassessment of research strategies to sustain or prevent a decline in prices.

He emphasised the significance of the organization for both countries in devising innovative approaches to tackle the evolving market dynamics.