110
Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The volume of cocoa in Côte d’Ivoire and Ghana that can be fully traced did not increase last year, a major UN-backed report has found, raising questions about how the world’s top two cocoa growers will comply with a new EU law banning the import of commodities linked to deforestation.
The new law next year will require importers of commodities and related goods to prove their products weren’t grown on deforested land by, amongst other measures, tracing their supply chains down to the plot where their raw materials were grown.
The report, published by the Cocoa and Forests Initiative (CFI), found 83% of directly sourced cocoa in Ghana and 82% in Côte d’Ivoire can be traced in this way, roughly stable versus 2022 levels.
Source: newsthemegh.com