Source: Reuters

ACCRA (Reuters) - Ghana's state-run cocoa market regulator Cocobod will supply cocoa direct to China as part of a deal for Beijing to finance a new hydroelectric dam in the West African country, Chief Executive Isaac Osei said on Monday.

"Ghana already has an agreement in relation to the Bui dam to ensure we support our government with 38,000 tonnes," Osei told reporters at a conference in the capital Accra.

"Cocobod is also looking to increase its influence in the China market. China buys 45,000 tonnes of cocoa worldwide, we are going to supply 38,000 tonnes. We want a foothold in that market. That is why we are doing it: 30,000 main crop, 8,000 light crop," he said.

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Posted by pichu at September 3, 2007 11:12 AM