Ghana's Cocobod Targets $1.2 Billion for Cocoa Purchases

Ghana's cocoa sector is primed for a promising 2023/2024 campaign, with the Ghana Cocoa Council (Cocobod) aiming to secure $1.2 billion for cocoa purchases, a substantial increase from the previous year. The new cocoa year was launched a month earlier than usual to boost production and combat smuggling. Cocobod plans to obtain $800 million through a syndicated loan with international banks and local institutions, while the remaining funds will be raised from other sources. This financial strategy underscores Cocobod's commitment to supporting the country's vital cocoa industry.

In pursuit of a prosperous cocoa season, Cocobod's ambitious funding plans are expected to facilitate cocoa purchases, bolstering the sector's performance and contributing to Ghana's position as a key player in the global cocoa market.