{"id":78415,"date":"2025-07-22T08:41:42","date_gmt":"2025-07-22T08:41:42","guid":{"rendered":"https:\/\/sotnews.agency\/?p=78415"},"modified":"2025-07-22T08:41:42","modified_gmt":"2025-07-22T08:41:42","slug":"ghanas-cocoa-export-volumes-fall-sharply-by-50-despite-rise-in-earnings-in-2024-auditor-general-report","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=78415","title":{"rendered":"Ghana\u2019s cocoa export volumes fall sharply by 50% despite rise in earnings in 2024 \u2013 Auditor General report"},"content":{"rendered":"
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Ghana recorded a steep drop in cocoa bean exports in 2024, even though total earnings from the commodity rose significantly. This is according to the latest Auditor General\u2019s report on the Bank of Ghana\u2019s foreign exchange receipts and payments for the year ended 31st December 2024.<\/em><\/p>\n

The data shows that Ghana exported 261,248 tons<\/strong>of cocoa beans in 2024, down from 533,057 tons<\/strong>in 2023, a drop of over 50 percent. Exports of processed cocoa products like butter, paste, and powder also declined, falling from 240,897 tons<\/strong> in 2023 to 192,429 tons<\/strong> in 2024.<\/p>\n

Yet, total cocoa export receipts jumped by 37.5 percent<\/strong>,<\/strong> from US$1.26 billion<\/strong>in 2023 to US$1.73 billion<\/strong> in 2024. This increase was largely driven by higher global prices and steady performance in value-added cocoa products.<\/p>\n

A major concern flagged in the report was the sharp decline in inflows from syndicated cocoa loans, which are key to financing Ghana\u2019s cocoa sector. In 2024, syndicated loan proceeds dropped from US$681 million<\/strong> to just US$50 million<\/strong>, a decline of more than 92 percent. The report clarified that the US$50 million<\/strong> recorded was not from the usual pre-export syndicated facility, but rather from non-collateralized loan proceeds used to pay interest on COCOBOD\u2019s debt.<\/p>\n

The Bank of Ghana had projected cocoa receipts of about US$1 billion<\/strong>for the year, but actual receipts stood at US$1.73 billion<\/strong>, resulting in a positive variance of over US$734 million<\/strong>.<\/p>\n

Cocoa contributed 14.47 percent<\/strong> of Ghana\u2019s total foreign exchange earnings of US$11.99 billion<\/strong> in 2024.<\/p>\n

The decline in production volumes despite the rise in earnings raises questions about long-term sustainability. With global prices currently driving revenue growth, there are concerns about how the sector would perform if prices drop and output levels remain low.<\/p>\n

The fall in syndicated loan inflows also points to tighter financing conditions for Ghana\u2019s cocoa industry. Without strong investment in production and support for farmers, stakeholders worry the gains made in 2024 may not last.<\/p>\n

Source:<\/strong> Report of the Auditor General on the Consolidated Statements of Foreign Exchange Receipts and Payments of the Bank of Ghana for the year ended 31st December 2024<\/em><\/p>\n<\/div>\n

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\"Ghana\u2019sGhana recorded a steep drop in cocoa bean exports in 2024, even though total earnings from the commodity rose significantly. This is according to the latest Auditor General\u2019s report on the Bank of Ghana\u2019s foreign exchange receipts and payments for the year ended 31st December 2024. The data shows that Ghana exported 261,248 tonsof cocoa [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-78415","post","type-post","status-publish","format-standard","hentry","category-blog"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/78415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=78415"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/78415\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}