The latest trade bulleting from the Ghana Statistical Service (GSS) paints a concerning picture of the country's cocoa export earnings.

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In the first quarter (Q1) of this year, cocoa product export values saw a significant decline, plummeting to just US$592.2 million compared to the same period in 2023. This represents a substantial reduction in export revenue compared to the three-year average.

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The decline is particularly alarming given that Q1 usually marks a peak in cocoa product exports.

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A significant drop in cocoa bean exports during the past two years' Q3 periods has been identified as a major contributing factor to this trend.

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The Graphic Business expresses deep concern over this situation, as cocoa plays a crucial role as the country's primary source of foreign exchange earnings.

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Various factors, including illegal mining (galamsey) and diseases like swollen shoot disease, have been cited as reasons for the decline in cocoa production.

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The government's failure to address the galamsey issue in cocoa-growing regions is perplexing and raises alarming questions about the country's future.

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Presently, the Ghana Cocoa Board (COCOBOD) faces significant debt due to inadequate cocoa production to offset syndicated funds for crop purchase.

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The situation is dire, and urgent action is needed to address the galamsey issue and protect Ghana's cocoa industry.

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