Ghana’s cocoa industry has experienced a sharp decline, with production dropping by 50% over the past three years, raising concerns about the country’s economic stability and export commitments.

Finance Minister Dr. Cassiel Ato Forson made this revelation while presenting the 2025 Budget Statement to Parliament on March 11. He highlighted the challenges facing the sector, particularly its inability to meet international supply demands.

Dr. Forson disclosed that during the 2023/2024 crop season, the Ghana Cocoa Board (COCOBOD) was unable to deliver 330,000 tonnes of cocoa required to fulfill contractual agreements.

"This under-supply has been rolled over for subsequent supply by the new administration," he stated, emphasizing the impact of the production shortfall on Ghana’s export commitments.

He further stressed the need for urgent policy interventions to revive the sector, noting that cocoa remains a pillar of Ghana’s economy.

"Cocoa production has dropped by nearly 50% over the past three years," he told Parliament, acknowledging the mounting concerns of industry stakeholders.

To address the crisis, Dr. Forson assured lawmakers that the government is committed to implementing strategies aimed at boosting productivity and ensuring the stability of cocoa exports.