Ghana set to miss 2024/25 cocoa target

Ghana is projected to fall short of its cocoa production target for the 2024/2025 crop season, according to the Ghana Cocoa Board (COCOBOD).

COCOBOD had initially set a target of 610,000 metric tonnes for the season.

However, the Chief Executive Officer of COCOBOD, Dr. Ransford Abbey, revealed that current output stands at approximately 590,000 metric tonnes, with just a few months left in the crop season.

“I don’t think that much will change, looking at the time we have to end the crop season,” Dr. Abbey said, adding, “We could do about 600,000 [metric tonnes] at most, considering we are now in the light crop season and the outlook hasn’t improved significantly.”

Despite the shortfall, Dr. Abbey expressed optimism about meeting production goals for the 2025/2026 crop season.

He cited ongoing efforts by COCOBOD and the government to enhance productivity and incentivise cocoa farmers.

“We are implementing new measures to support farmers and improve yields, there are also government-led initiatives that we believe will have a positive impact on production in the next crop season,” he stated.

Dr. Abbey also acknowledged the financial burden facing COCOBOD, disclosing that the organisation is grappling with debts amounting to GHS33 billion.

Despite this, he remains confident in a financial turnaround by the end of 2028.

“We are hopeful that in the next four years, COCOBOD will return to profitability, cost-cutting measures and improved efficiencies will help strengthen our financial position moving forward,” he said.