This week's global cocoa market update focuses on Ghana’s struggling cocoa industry. Despite contributing over 10% of its GDP, Ghana has faced a 50% drop in cocoa production by June 2024, impacted by heavy rainfall, illegal mining, and diseases like swollen shoot disease. The Ghana Cocoa Board (COCOBOD) has committed nearly a billion cedis to rejuvenate affected farms and aims for 800,000 metric tons by 2024/25. However, smuggling and delayed funding continue to hinder recovery efforts, threatening Ghana’s position as a leading cocoa producer.
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