March 20, 2018 / 3:13 PM / 2 years ago

Ghana abandons plan to cut cocoa farmers' prices - minister

ACCRA, March 20 (Reuters) - Ghana's government has called off plans to cut how much it pays cocoa farmers and will look at other ways to address volatile market prices, Senior Minister Yaw Osafo-Maafo said on Tuesday.

In January, the world's second largest cocoa grower said it would consider pegging farmer prices to 70 percent of the world market price to protect the country's finances.

"We won't do it ... It has been looked at and the decision is that we would not do it," Osafo-Maafo told Reuters on the sidelines of a meeting between West African cocoa regulators and international lenders in Accra. (Reporting by Kwasi Kpodo Editing by Sofia Christensen and David Evans)

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