The Ghana Cocoa Board (COCOBOD) has announced a downward revision of its cocoa production target for the upcoming 2024/2025 season, citing adverse weather conditions as the primary reason.
The initial target of 810,000 metric tons has now been reduced to 650,000 metric tons.
Speaking at a press briefing on Tuesday (20 August) The COCOBOD chief executive officer, Joseph Boahen Aidoo, made the announcement during a press briefing last night.
He explained that the unusually harsh weather conditions, including prolonged droughts and irregular rainfall patterns, have significantly impacted cocoa yields, making it necessary to adjust the production forecast.
“Given the current climatic challenges, we are no longer confident in reaching the previously projected 810,000 metric tons. We have therefore revised the target to 650,000 metric tons for the 2024/2025 season,” Aidoo stated.
He added that COCOBOD is working closely with farmers to mitigate the impact of these conditions through various support programs and interventions.
Despite the lowered target, Aidoo expressed optimism about COCOBOD’s financial stability, emphasizing that the organization’s new approach to funding cocoa purchases without offshore loans would help cushion the impact of the production shortfall.
Reporting by Nana Oye Ankrah in Accra
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