Cocoa production in Ghana has declined by nearly 50% over the past three years, posing a serious challenge to the country’s economy and its ability to meet export commitments.
This alarming development was revealed by Finance Minister Dr. Cassiel Ato Forson during the presentation of the 2025 Budget Statement to Parliament on March 11.
Dr. Forson disclosed that during the 2023/2024 crop season, the Ghana Cocoa Board (COCOBOD) was unable to deliver 330,000 metric tonnes of cocoa needed to meet its contractual obligations.
“This shortfall has now been rolled over for fulfillment by the new administration,” he explained, underscoring the impact of the production decline on Ghana’s export performance and international trade agreements.
The Finance Minister emphasised the urgency of policy intervention, noting that cocoa remains a cornerstone of Ghana’s economy and a key source of foreign exchange.
“Cocoa production has dropped by nearly 50% over the past three years,” he stated, adding that the trend has raised growing concerns among stakeholders in the sector.
To address the crisis, Dr. Forson assured Parliament that the government is developing targeted measures to revive the cocoa industry, improve productivity, and ensure a more stable and sustainable export outlook.