Ghana has increased its own cocoa processing in recent years, from 200,000 tonnes to 400,000 tonnes in 2019, but it mostly remains at the stage of semi-finished products.
Where is most of Ghana’s raw cocoa processed?
Cocoa production occurs in the country’s forested areas: Ashanti, Brong-Ahafo, Central Region, Eastern Region, Western Region, and Volta, where rainfall is 1,000-1,500 millimeters per year.
How much cocoa does Ghana export?
Cocoa is the largest agricultural export commodity in Ghana. The country’s cocoa exports even though fluctuating; it has steadily increased from 239 thousand tonnes to 526 thousand tonnes between 1995 and 2013. This represents an annual export increase by 120%, and an average year-over-year export increase of 5.7%.
Does Ghana process cocoa?
Ghana has traditionally exported almost its entire crop of cocoa beans for processing to foreign chocolate production plants. Cocoa makes up 30% of Ghana’s total exports. … In January 2009, the new government formulated a policy to process at least 60% of cocoa that is grown locally.
Is the second largest producer of cocoa in the world?
The Ivory Coast and Ghana are by far the two largest producers of cocoa, accounting for more than 50 percent of the world´s cocoa. In 2016, the Ivory Coast alone produced approximately 1.6 million metric tons of cocoa beans.
Who does Ghana sell cocoa to?
Trade is highly concentrated, with Malaysia and the Netherlands account for just over half of the market. The United States, Germany and France round out the top-five trading partners, representing 69% of cocoa export earnings.
What is Ghana’s biggest export?
Ghana’s main exports are gold, cocoa beans and timber products. Others include tuna, aluminum, manganese ore, diamonds and horticulture. It’s main exports partners are Netherlands, Burkina Faso, South Africa and United Kingdom.
Is Ghana still exporting cocoa?
Ghana, the world’s second largest exporter of cocoa, is Switzerland’s closest trading partner in Sub-Saharan Africa, with the two having establishedreasonably close ties over many decades. … The overwhelming majority was led by Gold but the export value of Cocoa to the Swiss was still USD66.
How much is cocoa price in Ghana?
Ghana’s president, Nana Addo Dankwa Akufo-Addo announced a new producer price for cocoa for the 2020/2021 crop season. The new producer price is pegged at GHC10,560 per metric tonne of cocoa indicating that a bag of cocoa is now GHC660. The current price per 64kg bag of cocoa is GHC514.
Why is cocoa important to Ghana?
“Cocoa is a major source of foreign exchange for Ghana and foreign exchange is good for the country. Also, cocoa money is used for hospitals and roads for the benefit of the country. Cocoa is the backbone of the Ghanaian economy.” (Male FGD participants, Western Region).
Is Ghana famous for chocolate?
Ghana is the second-largest supplier of cocoa to the global market—cocoa beans from Ghana make up about 25 percent of the global supply. The country is widely known for its cocoa beans, but not its chocolate.