Ghana: cocoa stuck at ports as global demand drops

Tens of thousands of tonnes of cocoa remain unsold at Ghana’s main ports as falling global demand puts pressure on farmers and traders, as reported by APA News on February 9th.

Ghana’s cocoa market regulator, Cocobod, said around 50,000 metric tonnes of cocoa are currently sitting at the ports without buyers. Talks are ongoing between cocoa farmers and finance ministry officials to find a solution to the growing problem.

This situation is a result of a sharp decline in global cocoa demand over the past two years. During this period, the international price of cocoa has fallen to about $4,000 per tonne. This decline has hit major producers hard, including Ghana, the world’s second-largest cocoa producer.

In Ghana, Cocobod set the farmgate price at almost $5,300 per tonne for the current season. While the price was meant to protect farmers’ incomes, it has become too high for many traders to afford under current market conditions. As a result, sales have slowed, and stocks have accumulated. 

Cocoa is a key part of Ghana’s economy. About 800,000 people depend on cocoa farming for their livelihoods, and the sector accounts for roughly 15% of the country’s export earnings.

Neighbouring nation Côte d’Ivoire, the world’s largest cocoa producer, is facing similar challenges as demand weakens and prices struggle to recover; cocoa accounted for 40% of Nigeria’s non-oil exports in 2025. 

Any prolonged delays risk affecting incomes in rural areas and overall export revenues. Cocobod CEO Ransford Abbey said the government is taking the issue seriously, especially because of its impact on farmers. He said discussions are underway to ease the pressure on producers and prevent further losses.

According to Abbey, Ghana has harvested just under 585,000 tonnes of cocoa so far this season. Of this amount, about 530,000 tonnes have been sold, leaving close to 50,000 tonnes without buyers. Total production is expected to rise to around 650,000 tonnes by the end of the season, which could worsen the surplus if sales do not improve.

Licensed Buying Companies (LBCs), which purchase cocoa directly from farmers, have warned that urgent action is needed. They have called on the government to provide funding to buy up to 300,000 tonnes of cocoa to prevent a possible collapse of the sector.

The Ghanian government recently settled $1.47 billion in energy debts to reset the country’s power sector; the government has said that economic growth depends on addressing debt, infrastructure gaps, and climate risks.  

According to the report, industry sources have revealed that some farmers have not been paid for their cocoa produce since November, adding to concerns. LBCs estimate that at least $200 million would be needed to purchase the unsold cocoa at current prices.

 

APA News, Maghrebi.org