Ghana’s Cocoa Production Poised for Strong Rebound
Ghana’s cocoa production is projected to witness a significant resurgence in the upcoming season, reaching over 800,000 metric tons, according to the chief executive of the nation’s cocoa regulator, COCOBOD. Adverse weather conditions, including strong winds, extreme heat, and excessive rainfall triggered by El Niño last year, combined with smuggling and the destructive swollen shoot disease, contributed to a decline in production for the world’s second largest cocoa producer. Ghana’s cocoa output is anticipated to fall nearly 40% short of its target for the 2023/24 season. Supply constraints in Ghana and neighboring Ivory Coast, which account for more than 60% of global cocoa production, have contributed to record price increases worldwide. In an interview with Accra-based radio station JOY FM, COCOBOD CEO Joseph Boahen Aidoo expressed optimism for a “fantastic” production season in 2024/2025. Favorable weather conditions and rehabilitated cocoa plantations will bolster production. Aidoo attributed the substantial decline in production primarily to the El Niño climate phenomenon, which resulted in excessively hot and dry conditions followed by excessive rainfall, leaving the soil waterlogged and hindering agricultural output. Cocoa cultivation requires a delicate balance of rainfall and sunlight. “The El Niño effect has disappeared. Next harvest season, we will see a fantastic result,” said Aidoo. The regulator has also revitalized 68,000 hectares of diseased farms, with 40,000 hectares of rejuvenated and productive farms set to be transferred to farmers by the end of July, contributing to increased production. Aidoo anticipates production to bounce back to the 800,000-tonne range, while higher farm gate prices are expected to curb cocoa smuggling, which is allegedly funded by foreign individuals based in neighboring countries. COCOBOD plans to borrow up to $1.5 billion to fund cocoa purchases in the 2024/25 season.Ghana’s cocoa regulator, COCOBOD, expects a strong rebound in cocoa production next season, thanks to favorable weather conditions and improved farming practices. The agency predicts a harvest of 1.5 million tonnes for the 2023/24 season, up from 1.3 million tonnes this season. COCOBOD’s CEO, Joseph Boahen Aidoo, attributed the expected increase to several factors, including the absence of extreme weather events, such as droughts or floods, and increased adoption of high yielding cocoa varieties by farmers. The agency has also been implementing a program to rehabilitate aging cocoa trees and expand the area under cultivation. The rebound in cocoa production is expected to boost Ghana’s economy, as cocoa is the country’s primary agricultural export. The country is the second largest cocoa producer in the world, after neighboring Ivory Coast. The news of the expected increase in cocoa production has been welcomed by industry stakeholders, who are hoping it will lead to higher incomes for farmers and increased revenue for the government.