Cocoa Beans Price in Ghana Decreases in July 2022

Ghanaian cocoa bean wholesale price decreased by 27% YoY to USD 1.14/kg in W5 Jul-22. Due to illegal mining taking a lot of cocoa plantation areas, extensive Harmattan wind in 2022, and the outbreak of swollen-shoot disease led to lower quality and quantity of cocoa production in Ghana. Lower quality cocoa in Ghana was unable to qualify the standard to be exported. Buyers are hesitant to import cocoa beans resulting in the price decreasing in July 2022.