Business News of Wednesday, 12 March 2025
Source: www.ghanawebbers.com
Cocoa production in Ghana has experienced a dramatic decline of 50% over the past three years, according to Finance Minister Ken Ofori-Atta. This significant drop is attributed to various factors, including climate changes, pest infestations, and inadequate farming practices.
Ofori-Atta highlighted that cocoa is crucial for Ghana's economy, contributing significantly to revenue and employment. The government recognizes the urgent need to address the challenges facing the cocoa sector. To combat this decline, the Ministry of Food and Agriculture is implementing strategies aimed at revitalizing production and ensuring sustainability.
One major initiative includes providing farmers with better access to resources such as fertilizers and improved seedlings. The government also plans to enhance training programs for farmers to adopt modern agricultural techniques that can boost yield and resilience against climate change.
The Minister emphasized the importance of collaboration with stakeholders in the cocoa industry, including farmers' groups and private sectors, to foster innovation and increase productivity. Additionally, efforts are being made to promote environmentally friendly practices that align with global sustainability goals.
Despite these challenges, Ofori-Atta expressed optimism about reversing the downward trend in cocoa production through concerted efforts from all parties involved. He urged stakeholders to work together in transforming the sector into a more profitable venture for farmers while securing its future contribution to Ghana’s economy.
In conclusion, addressing the issues affecting cocoa production is imperative for maintaining its status as a key economic driver in Ghana. The government's commitment to supporting farmers through various initiatives aims not only at restoring production levels but also at ensuring long-term sustainability within the industry.