Ghana’s Cocoa production hits 20-year low – Eric Opoku reveals

Ghana’s cocoa production has hit a two-decade low, with output dropping to 530,000 metric tonnes for the season, according to Eric Opoku, Minister-Designate for Food and Agriculture.

Speaking before Parliament’s Appointments Committee on January 20, 2025, Opoku noted the data from the Ghana Cocoa Board (COCOBOD) as evidence of a significant industry decline.

The drop has severe financial repercussions, including Ghana’s inability to meet its $800 million syndicated loan obligations tied to a target of purchasing 850,000 tonnes of cocoa. The resulting shortfall of 374,000 tonnes has been rolled over, further straining the sector's finances.

Opoku emphasized the need for immediate measures to address the debt and stabilize the cocoa industry. He stressed the new administration’s commitment to revitalizing the sector and mitigating its economic challenges.