Ghana’s cocoa industry has recorded its first growth in nearly two years, expanding by 3.4% in the first quarter of 2025, according to newly released data from the Ghana Statistical Service.

The positive performance marks a significant turnaround for the sector, which had endured six consecutive quarters of contraction, sparking widespread concern across the agricultural and export value chains.

The rebound in cocoa forms part of a broader resurgence in Ghana’s agricultural sector, which posted a 6.6% growth rate in Q1 2025—up from 2.4% during the same period last year. Overall, the national economy grew by 5.3% in the first quarter, buoyed by strong performances in fishing (16.4%), information and communications technology (13.1%), and manufacturing (6.6%).

While the 3.4% growth in cocoa is modest, analysts view it as a crucial sign of recovery, especially with global demand showing signs of stabilization. The industry had previously suffered a sharp and prolonged downturn, with 2023 delivering a mixed performance: -0.1% in Q1, a brief rebound to 1.2% in Q2, followed by declines of -0.4% and -1.1% in Q3 and Q4, respectively.

Conditions deteriorated further in 2024, when the sector experienced steep contractions of -20.2% in Q1, -26.0% in both Q2 and Q3, and -21.4% in Q4—making it one of the worst-performing periods in recent memory.

Experts say sustaining the current momentum will depend on continued policy support, particularly in areas such as timely input distribution, disease management, and the implementation of effective pricing mechanisms to support farmers.