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Business News of Saturday, 30 July 2022


Ghana set to record lowest cocoa crop yield in 12 years – Report

Cocoa is a key export commodity for Ghana play videoCocoa is a key export commodity for Ghana

Ghana is set to record its lowest crop yield for cocoa in 12 years, a report by Bloomberg has said.

The portal said the development comes after drought affected cocoa pods and activities of illegal small-scale mining which are reported to have damaged cocoa plantations in key areas.

According to preliminary data, Ghana, which is the second largest producer of cocoa, will harvest an estimated 685,000 tonnes of beans in the season through September.

This however represents a decline of about 1.05 million tonnes from the previous year according to persons familiar with the matter who asked not to be identified by Bloomberg.

The Ghana Cocobod has earlier projected a crop yield of 950,000 tonnes for the 2022 season but the forecast was impacted by long spells of drought at the start of the planting season.

Meanwhile, the cocoa regulator [Cocobod] in May said about 2 percent which is more than 19,000 hectares of cocoa plantations have been destroyed by activities of illegal small-scale miners.

In addition to this, cocoa farmers in Ghana have been impacted by the swollen shoot virus disease which has affected crop yield and output.

As of June 2 this year, Ghana’s cocoa output reached about 641,000 tons compared with 965,493 tonnes from the previous year. It is expected that an additional 40,000 tonnes of cocoa will likely be harvested during the mid-crop season that runs from July to September.

Public Relations Officer for Ghana Cocobod, Fiifi Boafo who declined to comment on the output estimate said the country's cocoa production is expected to recover from any decline in the next crop season.

“We will bounce back strongly,” he is quoted by Bloomberg said.

However, Ghana is estimated to harvest about 850,000 tonnes of cocoa in the upcoming season which commences in October this year.


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