According to the report by Bloomberg, Ghana failed to secure buyers last Wednesday due to the “high” price of the cocoa beans and the introduction of a surcharge.
But a statement issued Monday and signed by the Chief Executive Officer of COCOBOD, Mr Joseph Boahen Aidoo, explained that the Cocoa Marketing Company (CMC) last week decided to go a market sounding after the introduction of a Living Income Differential (LID) and weigh the market reaction and its dynamics.
It said the LID was not a surcharge, as had been reported; but a part of the price component of the trading mechanism.
