Ghana, the world’s second-largest cocoa producer, has delayed the delivery of 370,000 metric tons of cocoa from the 2023/24 season, marking an increase from the 350,000 tons previously reported. The announcement was made by food and agribusiness minister-designate Eric Opoku during a parliamentary vetting session on Monday, according to Reuters.
The delay comes as cocoa production in the West African nation fell to its lowest level in two decades, driven by poor yields. Opoku revealed that the production figures provided by the Ghana Cocoa Board (COCOBOD) indicate an output of less than 550,000 metric tons for the 2023/24 season.
Cocoa production in Ghana reached its peak in 2021, surpassing one million tons. However, it has since experienced a steep decline, with the past season’s output hitting a multi-decade low. The sharp drop in production has been attributed to several factors, including climate change, the prevalence of tree diseases, and illegal mining activities in cocoa-growing regions.
‘Production has fallen to the lowest in two decades,’ Opoku said, adding that the low yields also forced COCOBOD to default on an $800 million loan from international lenders meant to finance cocoa purchases for the season.
Analysts point to climate change as a significant contributor to the production crisis, citing unpredictable rainfall patterns and extreme weather conditions that have disrupted farming cycles. In addition, the widespread destruction of cocoa farmlands by illegal gold mining operations has further exacerbated the problem. Farmers have expressed frustration with the government for its perceived inaction in curbing these destructive activities.
Reuters previously reported in June that Ghana was planning to postpone the delivery of 350,000 tons of cocoa due to these challenges. This latest update confirms a further increase in the delayed tonnage, underscoring the severity of the production shortfall.
The production decline and delayed deliveries pose serious economic challenges for Ghana, which relies heavily on cocoa exports as a source of foreign exchange. The inability to meet contractual delivery obligations could damage the country’s reputation in global cocoa markets and strain its financial standing.
Efforts to reach COCOBOD for comment on the situation were unsuccessful at the time of reporting.
This unprecedented delay signals a pressing need for sustainable solutions to protect Ghana’s cocoa industry from environmental, economic, and social pressures.
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