- Ghana and Ivory Coast are contributing to global cocoa production deficit due to shared supply chain challenges.
- Cocoa input costs rose to multi-decade highs amid sharp output declines in Ivory Coast and Ghana, exacerbated by the Ghanan Cocoa Board's debt crisis.
- El Nino typically brings drier conditions to West Africa, affecting cocoa production in Ghana and Ivory Coast.
Ghana Cocoa Harvest Declines Amid Mixed Weather Patterns
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Ghanaian cocoa farmers are experiencing sharp declines in harvests compared to the previous year. Joseph Agbeko, a farmer, reported his harvest dropped from 31 bags to five bags since the season began. The Ghana Cooperative Cocoa Farmers and Marketing Association noted that the poor start was due to mixed weather, with heavy rains preventing pod development in some areas and lack of rain causing flowers to wither in others.
From cnbcafrica.com
Why it matters
The decline in cocoa output in Ghana is part of a trend where input costs have risen to multi-decade highs amid sharp output declines in Ghana and Ivory Coast. Reduced cocoa supply could impact regional commodity availability and trade flows through the Economic Community of West African States.
El Nino typically brings drier conditions to West Africa, affecting cocoa production in Ghana and Ivory Coast. Cocoa input costs have risen to multi-decade highs amid sharp output declines in Ivory Coast and Ghana, exacerbated by the Ghanan Cocoa Board's debt crisis.
From cnbcafrica.com
Who's involved
- GhanaThe country where the cocoa production decline is occurring.
- Joseph AgbekoA farmer who reported a sharp decline in his cocoa harvest.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- finance ministrySpeculative
Lower agricultural output could reduce state revenue, impacting the national budget.
- Bank of GhanaSpeculative
Cocoa output decline may reduce national revenue and GDP, pressuring the central bank.
- Economic Community of West African StatesSpeculative
Ghana's reduced cocoa supply could impact regional commodity availability and trade flows.