The once-thriving cocoa sector, a backbone of Ghana’s economy, is now in deep crisis due to mismanagement and mounting debts, Finance Minister Dr. Ato Forson revealed during the presentation of the 2025 budget on the floor of parliament today, 11th March 2025.
Dr. Forson revealed that cocoa production has dropped by nearly 50% over the past three years.
In the 2023/2024 season, COCOBOD failed to supply 330,000 metric tons of cocoa to meet its contractual obligations, rolling over these commitments to subsequent years at the expense of the new administration.
The finance minister added that this shortfall has resulted in a revenue loss of $840 million for both COCOBOD and cocoa farmers, further impoverishing thousands of rural households.
Dr. Ato Forson additionally stated that COCOBOD’s outstanding debts have soared to GHS 32 billion, with GHS 11.92 billion due for repayment in 2025.
Ghana|Atinkaonline.com|Ebenezer Madugu
