Ghana’s COCOBOD Faces $1.34 Billion Loss Amid Cocoa Production Decline

• COCOBOD unable to deliver 333,767 metric tons of cocoa from the 2023-2024 crop season.
• Financial strain worsened by mounting debt and declining cocoa output.

Accra, Ghana – Ghana’s cocoa regulator, COCOBOD, is set to incur a $1.34 billion loss due to the non-delivery of cocoa from the 2023-2024 crop season, President John Mahama told lawmakers during his first State of the Nation Address on Thursday, February 27. The shortfall stems from COCOBOD’s inability to supply 333,767 metric tons of cocoa that had been pre-sold at $2,600 per ton. As a result, these contracts were rolled over into the 2024-2025 season, forcing COCOBOD and Ghanaian farmers to absorb significant losses.