https://en.sputniknews.africa/20250121/ghana-delays-cocoa-delivery-amid-sharp-drop-in-production-1070296776.html
Ghana Delays Cocoa Delivery Amid Sharp Drop in Production
Ghana Delays Cocoa Delivery Amid Sharp Drop in Production
Sputnik Africa
Last month, Ghana's president promised to reform the cocoa industry to improve efficiency and boost farmer incomes. He criticized the state-run Ghana Cocoa... 21.01.2025, Sputnik Africa
2025-01-21T17:10+0100
2025-01-21T17:10+0100
2025-01-21T17:10+0100
ghana
economy
west africa
cocoa
farmers
production
agriculture
sub-saharan africa
https://cdn1.img.sputniknews.africa/img/07e8/0c/11/1069752139_0:158:3077:1889_1920x0_80_0_0_0b594b6381c2cf00d1267d57850a49b9.jpg
Ghana, the world’s second-largest cocoa producer, has delayed the delivery of 370,000 tonnes of cocoa originally scheduled for the 2023/24 season.The decision, announced by the state-owned Ghana Cocoa Board (COCOBOD), comes as the country grapples with its lowest production levels in two decades.Eric Opoku, Ghana’s food and agribusiness minister-designate, revealed the extent of the crisis during his vetting process in parliament.The decline in output forced COCOBOD to default on repaying an $800 million loan secured from international lenders for cocoa purchases.The global cocoa market has been closely watching Ghana, which has faced challenges from climate change, tree diseases, and the impact of illegal gold mining. These factors have compounded the sector’s struggles, with production declining sharply after peaking at over 1 million tonnes in 2021.
https://en.sputniknews.africa/20241217/ghanas-mahama-plans-to-restructure-cocoa-sector-aiming-to-boost-efficiency--farmer-profits-1069752343.html
ghana
west africa
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2025
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
ghana, economy, west africa, cocoa, farmers, production, agriculture
ghana, economy, west africa, cocoa, farmers, production, agriculture
Ghana Delays Cocoa Delivery Amid Sharp Drop in Production
Christina Glazkova
Writer / Editor
Last month, Ghana's president promised to reform the cocoa industry to improve efficiency and boost farmer incomes. He criticized the state-run Ghana Cocoa Board's competition with farmers for profits and suggested a new system where a state enterprise would serve as both regulator and quality controller, ensuring direct payments to farmers.
Ghana, the world’s second-largest cocoa producer, has delayed the delivery of 370,000 tonnes of cocoa originally scheduled for the 2023/24 season.
The decision, announced by the state-owned
Ghana Cocoa Board (COCOBOD), comes as the country grapples with its lowest production levels in two decades.
Eric Opoku, Ghana’s food and agribusiness minister-designate, revealed the extent of the crisis during his vetting process in parliament.
“Production has declined and this is the lowest in the last two decades,” he said, citing figures of below 550,000 tonnes for the 2023/24 season.
The decline in output forced COCOBOD to default on repaying an
$800 million loan secured from international lenders for cocoa purchases.
The global
cocoa market has been closely watching Ghana, which has faced challenges from climate change, tree diseases, and the impact of illegal gold mining. These factors have compounded the sector’s struggles, with production declining sharply after peaking at over 1 million tonnes in 2021.
