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In a statement copied to the Ghana News Agency, Dr Forson noted that in June 2024, COCOBOD issued a Request for Proposal of $1.5 billion loan to purchase up to 650,000 metric tonnes of cocoa for the 2024/2025 crop year.

“But this request did not attract any interest from the international banks due to the poor health of COCOBOD and the collapse of the cocoa sector under its present management,” he said.

“From a production level of 969,000 metric tonnes inherited from the National Democratic Congress (NDC) in the 2016/2017 crop year, cocoa production has declined to just a little over 400,000 metric tonnes for the 2023/2024 cocoa season.”

Dr Forson said the significant decline in cocoa production in the last eight years and the mismanagement of the cocoa sector had impacted COCOBOD’s ability to meet its contractual obligations.

“COCOBOD is unable to supply about 250,000 metric tonnes of cocoa and has resorted to the rollover of this contractual obligation due to the poor management of the cocoa sector which has resulted in significant decline in cocoa production under the New Patriotic Party (NPP) Government,” he stated.

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