Commodity Analysis Report: The Ghana 2014-2015 Cocoa Main Crop Failure, the Possible Causes and Potential Impacts to the Global Cocoa Commodity Markets..
Anang Tawiah posits:
“Upon critical evaluation of this whole cocoa harvest fiasco, it becomes obvious to the discerning analyst that this spillover was caused by externalities such as fluctuating commodity prices on the international commodity markets and poor local policy management with respect to the runaway public sector wage bill (Single Spine), and an ever increasing government expenditure bill stemming from many poorly planned projects. This in effect caused the government to go broke at a very sensitive time of the cocoa season cycle thereby setting in motion, a series of negative ripple effects in both the cocoa sector and the economy in general.
Playing possum should NOT be our recourse to such an important national economic and social issue.”
Ghana 2014-2015 Cocoa Main Crop failure, Possible Causes/Reasons and Possible Solutions…
Brief history of Cocoa in Ghana
Cocoa originated from around the headwaters of the Amazon in South America. Its cultivation and value spread in ancient times throughout the Central and Eastern Amazonian region and northwards into Central America. Cocoa beans were used by the Native Americans to prepare a chocolate drink or chocolate and also as a form of currency for trading purposes and payment of tribute to the king. After the conquest of Central America in 1521, Hernan Cortez and his Conquistadores took a small cargo of cocoa beans to Spain in 1528, together with utensils for making the chocolate drink.
By 1580 the drink had been popularized in the country and consignments of cocoa were regularly shipped to Spain. The popularity of chocolate as a drink spread quickly throughout Europe, reaching Italy in 1606, France…
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