Government has defended its decision to reduce the syndicated loan for cocoa beans purchases for the 2017/2018 crop season, by about 28 percent.
The country will be seeking 1.3 billion dollars from its lenders for cocoa purchases for the next crop season which starts in October 2017.
This amount is lower compared to the 1.8 billion dollars the country secured last year.
Deputy Agric Minister, William Kwaitoo explains to Citi Business News the move is to avert high losses associated with the declining global prices of cocoa.
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