Cocobod has reiterated its commitment to achieving its yield target for the 2023–2024 crop season, despite warnings from both the International Monetary Fund (IMF) and the World Bank.
The two Bretton Woods Institutions have warned that Cocobod is unlikely to meet its ambitious target due to the adverse impact of illegal mining in cocoa-growing areas. This is a key factor that impedes the realisation of the target for the crop season.
However, Cocobod said it will meet the expected yields for the year 2024.
“I wish to indicate that we have over the past seven years we have achieved significant success in our productivity-driven and plant-guard initiatives,” deputy CEO of Cocobod, Ray Ankrah, said at this year’s launch of Chocolate Week.
He further stated that in the coming months, Cocobod will officially hand over several rehabilitated farms across the whole nation to the beneficiary farmers.
This, he noted, has everything to do with the price of cocoa beans because the more farms that are rehabilitated, the more cocoa beans that these farms can produce, which will result in higher yields as well as higher sales.
The cash crop agency further reiterated that it is actively seeking youth participation to increase local consumption of cocoa products.
“So what we have done now is to set in place an arrangement that gives them the opportunity to have direct access of the [cocoa] beans and process it the way they want it,” said Fiifi Boafo, the head of public affairs at Cocobod.
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According to Mr Boafo, the artisanal chocolate makers can register directly with the cocoa-buying companies to purchase certain quantities of the cocoa beans for processing.
“So there is a new arrangement that is being rolled out very soon and that will permit, for example, an artisanal chocolate maker to buy say two bags of cocoa and use it for the purpose,” said Mr Boafo, emphasising that the person does not require to go through a third party before being able to buy the cocoa beans.
Mr Boafo noted in September last year that his outfit is targeting an output of 820,000 metric tonnes for the 2023–2024 season after the increased farmgate price.
Meanwhile, the annual Chocolate Week has been launched successfully under the theme “Eat Chocolate, Stay Healthy, Grow Ghana.”