COCOBOD sells 380,000mt of 2019/20 cocoa export contracts by mid-April

COCOBOD has sold around 380,000 tonnes of export contracts for the 2019/20 season, sources at the industry’s regulator Cocobod said on Tuesday.

The Cocobod sources said between 60,000 and 80,000 tonnes of export contracts were sold during the first 10 days of April.

The sources provided no comparative figure for the 2018/19 season.

The marketing company source said the farmgate price will rise next season from the current season’s GH¢7.6 (US$1.48) per kilogramme of cocoa because of the weakening cedi.

Ghana is the world’s second-largest cocoa producer behind Ivory Coast, with an expected output of around 800,000 tonnes for the 2018/19 season.