Ghana’s Cocoa Crisis: Once a global leader, now fighting for survival amid declining Yields
Published:
2 months ago
Source:
3News
Once the world's leading cocoa producer, Ghana has seen its cocoa industry face significant challenges, culminating in a dramatic decline in recent years. The country lost its premier position to neighboring Côte d'Ivoire in 1978, when cocoa production plummeted to 159,000 tons, capturing just 17% of the global market share. Although Ghana's cocoa sector showed signs of recovery in the late 1980s and early 1990s, with production steadily increasing to over 900,000 tons by 2010, the situation has deteriorated sharply over the past few years. By 2021, the industry was a vital part of Ghana's economy, contributing over GHS 3.1 billion, equivalent to $533 million, in revenue. However, the 2022 crop season marked the beginning of a worrying decline, with production dropping from 1 million tons in the previous year to 683,000 tons-a staggering 32% decrease.