COCOBOD Likely to Miss 610,000 Metric Tonnes Production Target for 2024/2025 Crop Season
Ghana is likely to miss its cocoa production target for the 2024/2025 crop season, according to the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr Randy Abbey.
Prior to the commencement of the 2024/2025 crop season, the Ghana Cocoa Board (COCOBOD) was seeking to raise 610,000 metric tonnes of cocoa beans.
Speaking in an interview on PM EXPRESS Dr. Abbey quipped cocoa production currently stands at 590,000 metric tonnes with a few months to the end of the season.
“I don’t think that much will change, looking at the time we have to end the crop season”, he stated.
“We could do about 600,000 [metric tonnes] at most, looking at the fact that we’re now doing the light crop season and we don’t see things turning around that much”, he added.
Dr. Abbey was, however, optimistic about the production target for the 2025/2026 Crop season based on some measures that COCOBOD is undertaking to improve yields and motivate cocoa farmers to increase production in the coming months.
Adding that the government is also implementing other programmes that will impact on production levels for the new crop season.
“We will also look at some innovative measures to encourage the farmers to improve their yields,” he remarked.
Speaking further, Dr Abbey expressed optimism of turning around the dwindling fortunes of COCOBOD by the end of 2028.
This was after he mentioned that company has been saddled with huge debts running into GHS 33 billion.
“We are hoping that in four years, the books will be looking good, in terms of retuning COCOBOD to some good profits. COCOBOD will also be undertaking some cost cutting measures that will go a long way to improve its financials going forward,” he noted.
