COCOBOD targets 800,000 tons of cocoa production after investing GH¢943 million in 2023

The Ghana Cocoa Board (COCOBOD) says it has invested nearly a billion cedis in 2023 towards rehabilitating aged cocoa farms and those affected by swollen shoot diseases to increase national production in the short to medium term.

Swollen shoot virus disease (CSSVD), a non-curable disease, reduces cocoa tree yields before killing them. Over the years, a significant portion of Ghana's cocoa farmlands have become either moribund or affected by the disease, resulting in reduced production.

Despite this, the cocoa regulator believes that the investment made in 2023 adds to previous years' spending to replace farms impacted by the virus, which has led to reduced cocoa production in recent years.

The Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo, stated in an interview with the state-owned Daily Graphic that this initiative is part of ongoing efforts to sustain cocoa production and support farmers' livelihoods.

He also expressed confidence that the country will produce over 800,000 metric tons of cocoa in the 2024/25 season, which begins in September.

In response to media reports about COCOBOD's administrative expenses increasing to GH¢3.4 billion last year despite a drop in cocoa production, the CEO clarified that the funds were used for cutting down diseased and aged farms, planting seedlings, and maintaining rehabilitated farms before handing them over to farmers nationwide.

He emphasized that this strategic investment led to the administrative cost rising to GH¢3.4 billion in 2023.

"It was important that we rehabilitate cocoa farms to sustain the sector and farmers' livelihoods, preventing a decline in cocoa productivity," he added.

Aidoo mentioned that COCOBOD remains dedicated to reviving cocoa production following adverse weather conditions that impacted the country's cocoa sector and led to decreased output.

He assured farmers of adequate and timely input supply for the upcoming season to facilitate increased production, emphasizing the board's efforts to make cocoa farming more appealing to the youth.

The Deputy CEO in charge of Finance and Administration, Ray Ankrah, highlighted that the GH¢943 million expense incurred on productivity enhancement programs (PEPs) was included in the administrative cost.

He said this amount was utilized to rehabilitate diseased and moribund farms, supporting farmers and boosting cocoa production for the upcoming season.

Ankrah explained that the one-off expenditure was funded through a loan from the African Development Bank (AfDB) and contributed to sustaining farmers' livelihoods and increasing cocoa production adding that without this investment, the administrative cost would have actually decreased in 2023.

“I think it’s deliberate to cause public disaffection because our audited accounts and the Auditor General’s report as captured in the 2023 financials show clearly that, included in the administrative cost is a GH¢943 million expense incurred on our productivity enhancement programmes (PEPs).

“The GH¢943 million was actually used to rehabilitate diseased and moribund farms to sustain the livelihood of the affected farmers and increase cocoa production, starting with the 2024/25 season,” Ankrah explained in the interview.

Meanwhile, the audited accounts and the Auditor General's 2023 report revealed that COCOBOD recorded a GH¢2.3 billion profit last year, a significant improvement from the GH¢4.2 billion loss incurred in 2022.

The cocoa regulator has since pledged to implement improved policies and programs for the upcoming season in alignment with the government's efforts to enhance produce and the livelihood of farmers.

MA/AE

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