Ghana Faces Cocoa Crisis: Delays Expected in Deliveries Amid Supply Shortage

by Louisa Afful
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Ghana, the world’s second-largest cocoa producer, is grappling with a worsening cocoa supply crisis. Due to poor crops caused by adverse weather, bean diseases, and illegal gold mining, the country plans to delay the delivery of up to 350,000 tons of cocoa beans to the next season.

The global chocolate industry is feeling the impact, with cocoa prices doubling this year due to poor harvests in Ghana and Ivory Coast, which produce 60% of global cocoa.

Ghana had pre-sold 785,000 tons of beans for the current season but may only deliver around 435,000 tons. This is a significant decrease from the usual 750,000-850,000 tons sold forward in previous seasons. With a 10.9% decline in global cocoa production expected this season, the industry faces challenges meeting demand, forcing chocolate companies to use cocoa stocks.

The surge in cocoa prices disrupts traditional trade mechanisms, affecting Ghana’s ability to stabilize cocoa prices for farmers. Failure to address these challenges may lead to increased smuggling, crop diversification, or further sales of cocoa farms to gold miners, according to industry sources.

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