Annual report on the Gold Coast / Colonial Office.

  • Colonial Office
Date:
[1951]
Catalogue details

Licence: Public Domain Mark

Credit: Annual report on the Gold Coast / Colonial Office. Source: Wellcome Collection.

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    tion were normal and commensurate with tonnage handled, except in the case of export duty which rose considerably as the result of new scales introduced at the beginning of the crop year. Thirteen million pounds was paid to the Government in export duty as against £3J million in the preceding year. This revenue is to be devoted by the Government for the most part to development schemes in cocoa¬ growing areas. In view of the increase in world price and consequent increase in the price to the producer, the Stabilisation Reserve, designed as a cushion between the farmer and fluctuations in world prices, was increased from £35 million to £51 million. In addition a balance of about £7£ million was allocated to swollen shoot grants, £1J million to riot and civil commotion insurance and over £329,000 for local development grants for projects of benefit to cocoa farmers. Income from earmarked investments totalling £1 million is used to finance the Board’s university, secondary and primary school scholarship schemes. The Cocoa Marketing Board buys its cocoa through licensed buying agents, the percentage of African agents other than co-operatives rising from 12 in 1950 to 15 in 1951. The Agricultural Produce Marketing Board again had a successful year, and despite the fact that the prices paid to the producers in 1951 for palm kernels and copra were substantially higher than in 1950, the net profit of the Board increased from £75,183 to £92,956. The produce declared for shipment by the Board during 1951 was as follows : Tons Palm kernels . . . . 2,614 Copra ..... 1,154 Shea nuts .... 220 In addition six tons of coffee were purchased and sold locally to the Army. The export of shea nuts was in the nature of an experiment, and in view of the uncertainty of the demand from overseas and the likelihood of the future selling prices being uneconomical in relation to the price ruling locally, it has been decided to abandon the experiment and to permit export through normal trading channels under licence from the Board. CO-OPERATIVES The Co-operative Marketing Association is the apex body of the various co-operative purchasing societies which have been set up in the Gold Coast. During the season ending 31st March, 1951, it marketed 31,617 tons of cocoa valued at £4,100,000 ; this represents about one-eighth of the total crop. The Association’s share of the new season’s crop as at 31st December was still higher. Paid-up capital and reserves increased by a third to £262,000 in the primary societies and £56,000 in the Association. Surpluses totalled £130,000, the majority of which was distributed in proportion to the amounts of cocoa marketed.
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