COCOBOD To Meet its 850,000 Target Despite Concerns

July 4, 2018 Leave a comment

Ghana Cocoa Board (COCOBOD) has given the assurance that it is on course to achieving its target of producing 850,000 metric tonnes of cocoa in the current cocoa season which ends in September.

Having opened its cocoa light crop season purchases from farmers, the assurance runs contrary to claims by a section of the media that the target may not be achieved, and will affect the country’s ability to pay the $1.3 billion cocoa syndicated loan.

Speaking to JoyBusiness the Senior Public Affairs Manager of COCOBOD, Noah Amenya, said, because COCOBOD had put in place the right policies, it would be able to hit its target which will enable it to meet financial obligations.

“Normally when we set the target we set it for a year and so the current target we set for ourselves include the light season purchases which bring out total purchases to about 850,000 tonnes of cocoa. Where we stand now I can assure you that we will meet the target we have set,” he said.

“We have put in place many interventions all in the vain to increase farmer production. That assertion that we may not be able to meet the target due to deforestation and illegal mining is not true because COCOBOD has started paying the loan already. COCOBOD has an enviable track record and it will keep to it,” Mr Amenya said.

Checks by JoyBusiness indicates that COCOBOD has already done 650000 metric tonnes, with barely three months to end the 2017/2018 crop season.

This then offers COCOBOD a clear indication that the target of producing 850,000 metric tonnes is within reach and will be reached with the light crop season purchases.

The Cocoa season started in October 2017, as the board contracted $1.3billion loan facility to help them purchase some 850000 tonnes of cocoa beans.

Source;myjoyonline.com