Ghana's Cocoa Crisis: Unprecedented Delivery Delays

Ghana delays delivery of 370,000 metric tons of cocoa for the 2023/24 season due to production falling sharply to a two-decade low. The shortfall, attributed to climate change and tree disease, affected the repayment of a substantial loan secured for cocoa purchases.

Ghana has postponed the delivery of 370,000 metric tons of cocoa during the 2023/24 season due to a significant drop in production, marking it as the lowest output in two decades. This decision was revealed by the country's food and agribusiness minister-designate during a parliamentary committee hearing.

Reports in June highlighted that Ghana, known as the world's second-largest cocoa producer, intended to defer the delivery of up to 350,000 tons of cocoa beans as poor crop yields persisted. In 2021, cocoa production in Ghana peaked at over 1 million tons, but has since dramatically declined.

Analysts attribute this steep decline to climate change and prevalent tree diseases, coupled with accusations of governmental negligence in mitigating wildcat gold mining detrimental to the cocoa regions. Consequently, the shortfall hinders the repayment of an $800 million loan by Cocobod.

(With inputs from agencies.)