Ghana May Exceed Main-Crop Cocoa Forecast

Ghana, the world’s second-biggest cocoa producer, may exceed its main-crop forecast of 600,000 metric tons this year, said Dramani Egala, deputy chief executive officer of operations at the Ghana Cocoa Board.

“We may see some slight improvement in what we expected,” Egala said today in a phone interview from the capital, Accra. He wouldn’t provide a more specific estimate.

It’s the first time the state-owned board, known as Cocobod, has said it may exceed its production forecast since the original estimate of 600,000 tons was announced in September. The main-crop harvest, which began in October, ends on June 4.

Cocobod bought 595,000 tons of beans from growers in the season to May 1, compared with 598,000 tons in the same period a year earlier, Bank of Ghana Governor Paul Acquah said earlier this week.

Ivory Coast is the world’s largest cocoa producer.