World News: 20:27 GMT Wednesday 12th June 2019. [Yahoo Business News Feed via SPi World News]
Cocoa prices rose sharply on Wednesday after key producers Ivory Coast and Ghana threatened to stop selling their production to buyers unwilling to meet a minimum price. The two African nations, which together account for 60 percent of the world's cocoa production, summoned buyers to Accra for a two-day meeting demanding a price of $2,600 per tonne. At the end of the meeting, Joseph Boahen Aidoo, chief executive of the Ghana Cocoa Board, told a news conference that their demands had been accepted in principle by the participants, but that there would be a follow-up meeting to work out how to implement the agreement.
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