The government of Ghana seeks to inject US$600 million into the cocoa sector . This is to boost production, marketing and consumption. This investment is expected to boost production from its current levels of 900,000 metric tonnes to 1.5 million metric tonnes in 2027. It represents 40% increase in the current production levels over the 7-year period. This is an extra boost to the farmers who have already received a price increase from GHS475 to GHS515 per bag. Funds would be disbursed through Cocobod.
The Ghana cocoa sector suffer set-backs due to the inefficiencies in the afore-mentioned support factors.
The Minister of Information, Mr Kojo Oppong Nkrumah, on Sunday afternoon made the announcement as part of the outcomes of a retreat by government ministers.
The investment would finance production activities like mass spraying of cocoa, agronomic support and input subsidies for cocoa farmers. Funds would also finance development of roads in the cocoa producing areas. The stimulus will target rehabilitation of plantations, improvement in storage and domestic processing. Domestic processing would stimulate local consumption.