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Ghana's state-owned cocoa buyer, the Producer Buying Company, is unable to purchase cocoa from farmers due to a debt of 673 million cedis ($60 million), leading to asset seizure threats and unfulfilled payments to growers, as the company struggles with a significant loss of market share and lack of support from government entities. #CocoaIndustry #GhanaAgriculture #EconomicCrisis #GH #CO
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Farmers go unpaid as Ghana's indebted state cocoa buyer faces asset seizure, source says
ACCRA, May 7 (Reuters) - Ghana's state-owned cocoa buyer is unable to purchase cocoa from farmers after accumulating debts of 673 million cedis ($60 million) that have left it facing an asset seizure, a company source with knowledge of the matter told Reuters.