Ghana Cocoa Industry Essay Example | Topics and Well Written Essays - 2250 words

Ghana Cocoa Industry - Essay Example However, it is of great significance to note that output varies on an annual basis. Factors such as price fluctuations, politics, and management play a crucial role in influencing output. Discussed in this paper is the role of politics in influencing cocoa production in Ghana, and interventional strategies set up to boost production of cocoa in the country. In addition, the paper also analyzes the cocoa industry in Ghana from different theoretical perspectives. Political theory centers on the analysis of economics influence on political ideologies. Tenants of the theory uncover the interplay of relationships between law, politics, and economics. In addition, it analyzes the development of various institutions in different economics and social systems for example, capitalist, socialist, and communist systems. Competing interests of specific individuals, groups or institutions affect a countrys economic development. This theory enables individuals visualize and understand the formation of public policies. Small-scale farmers in Ghana lack the resources to export their produce directly. They rely on intermediaries (businesspersons) and the government to broker deals with customers interested in their produce. Herein, lays the root cause of the countrys economic problem. These farmers receive meager compensation compared to the parties charged with the task of brokering the deal. As a result, poverty in Ghana is at an all-time high despite its flourishing cocoa industry. As mentioned, Ghana ranks second after Ivory Coast in the cocoa export industry (Ecobank, 2013). The country lost the title amidst waves of political upheaval in the country. In a bid to advance their personal interests, influential individuals mismanaged the cocoa industry. Through the Cocoa Marketing Board, farmers received fixed compensation for their produce.