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02.11.2005 General News

Cocoa Board denies cash flow problems

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Accra, Nov. 2, GNA - The Ghana Cocoa Board has denied that there are insufficient funds for the 2005/2006 cocoa main crop purchases. A statement signed in Accra by Mr Kwame Sarpong, Chief Executive, said; "sufficient funds have been released to the Licensed Buying Companies (LBC) for the purchases of the 2005/2006 main crop season which began on October 7, 2005."

Cocoa Board also directed the LBCs to use the Akuafo Cheque to pay for all cocoa purchases instead of cash.

"We expect the maximum cooperation of all cocoa farmers, Licensed Buying Companies and other stakeholders to make the Akuafo Cheque workable."

The statement urged cocoa farmers throughout the country to adhere to proper fermentation and drying practices to maintain the premium quality of Ghanaian cocoa beans.

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