Ghana is set to fall short of its cocoa production target for the 2024/2025 crop season, according to the Ghana Cocoa Board (COCOBOD). The initial target of 610,000 metric tonnes is now unlikely to be achieved, with current figures standing at approximately 590,000 metric tonnes.

Speaking on PM EXPRESS, COCOBOD Chief Executive Dr. Ransford Abbey acknowledged the shortfall and noted that the limited time left in the crop season makes a significant recovery unlikely.

“I don’t think that much will change, looking at the time we have to end the crop season,” Dr. Abbey said. “We could do about 600,000 metric tonnes at most, considering that we’re now in the light crop season and don’t expect major improvements.”

Optimism for the 2025/2026 Season

Despite the current setback, Dr. Abbey expressed confidence in Ghana’s cocoa outlook for the 2025/2026 season. He cited ongoing initiatives aimed at increasing productivity and farmer motivation.

“We’re looking at new, innovative ways to encourage farmers to improve yields,” he explained. He added that government-backed interventions would also play a crucial role in boosting future production.

Tackling COCOBOD’s Debt Challenge

On the financial front, Dr. Abbey revealed that COCOBOD is grappling with a debt burden of GHS33 billion. Nonetheless, he remains optimistic about the Board’s ability to recover financially by the end of 2028.

“We are hopeful that in four years, COCOBOD will return to profitability. Our aim is to clean up the books and restore confidence in our operations,” he stated.

As part of its financial recovery plan, COCOBOD will introduce cost-cutting measures and improve internal efficiencies to reduce expenditure and enhance sustainability.