The Minister-designate for the Ministry of Food and Agriculture, Hon. Eric Opoku , during his vetting in Parliament yesterday, expressed serious concerns about Ghana’s cocoa production, revealing a sharp decline that has pushed output to its lowest level in 20 years.
Hon. Eric Opoku highlighted figures from the Ghana Cocoa Board (COCOBOD) showing that cocoa production for the season was pegged at 530,000 metric tonnes. This represents a significant drop compared to previous years. He clarified discrepancies in earlier reports, stating:
“Just recently, during the transition engagement, COCOBOD submitted a list to us. In that document, they indicated that their production was 530 metric tonnes. In this case, both of you are right. But, be it 430 or 530 metric tonnes, production has declined, and that is the lowest in the last two decades.”
The revelation underscores the mounting challenges facing Ghana’s cocoa sector, which has historically been a cornerstone of the country’s economy.
Financial Challenges in the Cocoa Sector
Adding to the gravity of the situation, Mr. Opoku disclosed that Ghana defaulted on an $800 million syndicated loan intended to purchase 850,000 tonnes of cocoa. The shortfall in production targets, he explained, has placed significant financial strain on the sector.
He assured the Parliamentary panel and Ghanaians at large that the government is committed to addressing the debt and other systemic issues affecting the cocoa industry. “Resolving this financial challenge will be a top priority as we work to restore confidence and productivity in the sector,” Mr. Opoku said.
PICTURE CREDIT: News Ghana
