Ghana’s cocoa production hits 20-year low Eric Opoku reveals [Video]

Speaking before Parliament’s Appointments Committee on Monday, January 20, Opoku cited recent data from the Ghana Cocoa Board (COCOBOD), highlighting a significant drop in output.

According to him, COCOBOD’s transition engagement report indicated that the country’s cocoa production for the season stood at 530,000 metric tonnes.

“This is the lowest production level recorded in the past 20 years,” he emphasized.

“Whether the figure stands at 430,000 or 530,000 metric tonnes, both numbers reflect a worrying decline.”

Opoku further revealed that the decline in cocoa production has had dire financial implications, particularly concerning Ghana’s syndicated cocoa loan obligations.

He referenced an $800 million syndicated loan Ghana secured to purchase 850,000 tonnes of cocoa.

However, due to the production shortfall, the country could not meet …