Ghana—Chief Executive Officer of Ghana Cocoa Board, Joseph Boahen Aidoo has revealed that Ghana recorded more than 1.4 million metric tons of cocoa beans production in the 2020/21 crop season.
This is an increase of 45% over 2019/2020 production and surpasses the earlier record of about one million metric tons achieved in the 2009/2010 crop session.
The Ghanaian government, which is the sole cocoa buyer in the country, had projected a harvest of 850,000 tons for the 2020-2021 season.
The palatial outcome has been attributed to favorable and good policies by the present COCOBOD administration. Some of the policies include “The living Income Differential” which had raised the income of cocoa farmers.
The bountiful harvest was far achieved even before the main crop season ended in June, there were many cocoa beans produced this year as some of the Licensed Buying Cocoa Companies particularly the smaller players exhausted their seed fund.
This performance integrated with favorable world market prices will boost exports and the country’s reserves and impact on the cedi.
The nation had earlier forecast 900, 000 tons of cocoa beans production for this crop season.
According to the CEO of the Ghana Cocoa Board, Joseph Boahen Aidoo, this shows policies and programs implemented by the government are proving worthwhile.
COCOBOD had implemented the cocoa under the irrigation system, hand pollination and rehabilitation of age and diseased-infected farms.
“We have exceeded our production target for the year and the money we took as loan didn’t take us anywhere. Very soon, we will sign the syndication for the next crop season and I must say we have made arrangements to get the banks on board to chart this path” Joseph revealed.
Ghana and the Ivory coast control about 70% of the world’s cocoa market.