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Excerpt from Ghana's Agriculture and Trade in Farm Products The Gold Coast, British colony on the west coast of Africa, received considerable attention from the world in March 1957. At that time, it took over responsibility for its own foreign affairs, changed its name to Ghana, and became the first Negro-populated and Negro-governed member of the British Commonwealth. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Using Ghana as a case study, this work integrates economic and political analysis to explore the challenges and opportunities of Africa's growth and transformation.
Of Edinburgh. University. Dept. of Political Economy. Ghana; projected level of demand, supply and imports of agricultural products in 1965, 1970 and 1975 (A281.19 Ed 4).
This report shows that Ghana's economic decline of agricultural prices cannot be attributed solely to government price intervention. But intervention in the workings of the cocoa sector contributed heavly to the country's inability to achieve prosperity and stability after 1957. During the decades since independence in 1957, direct intervention in Ghana's all-important cocoa sector has been in the hands of a Cocoa Marketing Board (CMB), which sets annual producer prices, purchases the crop from domestic producers and markets it to foreign buyers. Although the chief reason for creating the CMB was to assure Ghana's cocoa farmers a stable and decent income, the agency's direct intervention helped to keep producer prices lower than they might have been otherwise. The government's direct and indirect intervention in the cocoa market, according to the study, far outweighed its incentives to cocoa producers. Moreover, most of the benefits of these incentives went to large producers rather than the far more numerous smallholders. Another important finding of this study is that government regulation of the cocoa sector had the serious negative long-term effect of deferring the replacement of old coffee trees with new ones.