Ghana’s local cocoa processing capacity nears 50 percent of production

Published 2021년 2월 15일

Tridge summary

Ghana's cocoa production is projected to reach 800,000 tonnes this season, thanks to strategies focusing on productivity and mass hand pollination, despite global demand for cocoa beans slumping due to the economic slowdown from COVID-19 and efforts by major chocolate producers to evade the Living Income Differential payment. The Ghana Cocoa Board aims to increase local processing of cocoa beans to 50% of total production, with support from a US$200 million loan, as the chocolate market is expected to grow to over US$161.56 billion by 2024. The Ghana Export Promotion Authority is working on policy frameworks to increase cocoa bean sales to chocolate manufacturing companies, with plans to expand incentives for local processors. Despite these challenges, there is potential for Ghanaian chocolate, known for its high cocoa content, to compete globally with the right economies of scale and financial support.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cocoa production in Ghana is expected to reach 800,000 tonnes this season, according to COCOBOD’s forecast. This is significantly higher than the trough of about 700,000 tonnes per annum around the middle of the previous decade but well below the peak production level of one million tonnes achieved a decade and a half ago. The forecast production for the current crop season, if achieved would bear testimony to the prudence of COCOBOD's ongoing strategy of focusing on increasing productivity in the best quality acreages under production rather than trying to increase output everywhere including the least productive third of cocoa farmland under cultivation, which is producing sharply diminishing output. It also evidences the success of the industry facilitator’s mass hand pollination initiative introduced a couple of years ago to supplement its mass pesticide spraying exercise. However while production is increasing, a commensurate increase in actual sales is proving harder ...

Source: Ghanaweb