Feb 19, 2016 09:18 AM EST
Experts of African economy believe that the growing cocoa production will help the West African countries to recover from the flagging economic condition. Many economists have requested the government to focus more on the cocoa harvest. Nigeria, a West African nation, is considered to be the largest contributor to Africa's economy with more oil deposits that have attracted many to invest in the country.
THIS DAYLIVE quoted Mr. Edward George, the leader of research sector at Ecobank, who advised the West African nations including Nigeria to benefit from the growing cocoa production in order to boost their economic conditions. According to him, West Africa needs to pull 70% in cocoa production in order to expose its smartness to the world.
There is a growing demand for organic cocoa globally, however market experts estimates deep shortage in the supply market and urges cocoa farmers to apply organic farming. The producers can yield nearly 300 - 500 Kg of cocoa a hectare from an organic soil, while in agrochemical farming, farmers can harvest nearly 0.7 - 1.5 metric tonnes a hectare, as reported in FOOD navigator.com.
However, high incentives are required for the farmers to change to organic farming. Sako Warren, International Cocoa Farmers Organisation's secretary general, said that small farmers in West Africa needs to borrow more money to possess an organic farm, which ultimately end up in poverty. Cocoa growers need to get raw materials at low price or for free to gain from the cocoa bean harvest. The prices of cocoa closed higher on Wednesday commodity trading market.
Meanwhile, Nana Addo Dankwa Akufo-Addo, a New Patriotic Party nominee for presidential election, has pledged Ghana cocoa farmers that he will bring huge renovation in the cocoa farming department. He promised farmers of high prices for their agricultural products, which will be higher than the NDC government level. Akufo-Addo also ensured that cocoa farmers' children will be given COCOBOD scholarships and other benefits.
Akufo-Addo also pointed out the achievements of President Kufuor government in the cocoa farming department. The government under Kufuor, who is also a New Patriotic Party flag bearer, was responsible for the increased cocoa production of around 700,000 metric tonnes during the period 2003 - 2004. The production of cocoa reached its peak of 1 million metric tonnes during 2010 -2011, the GhanaWeb said.
According to Akufo-Addo, these improvements in cocoa sector were erased under the administration of President Mahama. It seems that politicians in West African countries try to overcome each other by making pledges on the improvements of cocoa farming sector.
West African nations are battling many challenges including the fall in crude oil prices. Massive improvements in the cocoa farming sector will make their fundamentals strong.
However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.
o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.
If you think that the micro accounts are useful only for beginners who may not be able to cope with the fast dynamics of changing quotes on trading platforms, then this is not so. Professionalism grows out of these cent accounts.