Ghana Holds Emergency Meeting on Cocoa as Futures Plunge

The president of Ghana, the world’s second-largest producer of cocoa, held an emergency cabinet meeting as international prices of the chocolate-making ingredient plunge.

The meeting led by President John Mahama on Wednesday agreed on decisive steps to expedite payment to farmers for their cocoa, Minister of State for Government Communications Felix Kwakye Ofosu told reporters at the end of the session in the capital, Accra. Finance Minister Cassiel Ato Forson will unveil details on Thursday, including additional measures to increase domestic processing of cocoa beans, he said.