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Sun, Jun

COCOBOD ON COURSE TO ACHIEVING 850,000 TARGET

Business & Economy

Highly placed sources at the Ghana Cocoa Board have given the assurance that Ghana is on course to achieving its target of producing 850,000 metric tonnes of cocoa in the 2017/2018 cocoa season which ends in September.

Highly placed sources at the Ghana Cocoa Board have given the assurance that Ghana is on course to achieving its target of producing 850,000 metric tonnes of cocoa in the 2017/2018 cocoa season which ends in September.

 

This assurance runs contrary to claims by a section of the media that the target may not be achieved, and so will affect the country’s ability to pay is $1.3 billion cocoa loan. 

"That assertion is not true because COCOBOD has started paying the loan already. Indeed, under this current Chief executive, COCOBOD last year settled its loan obligation one month ahead, to the admiration of the international community. COCOBOD has an enviable track record and it will keep to it," the source told the Daily Statesman.

While admitting that the weather pattern was not very favourable for cocoa production last year, the source insisted that because COCOBOD had put in place the right policies, it would be able to hit its target and position it to meet all obligations.

Checks done by this paper indicate that even though the 2017/2018 cocoa season will end in September, COCOBOD has already done 650000 metric tonnes.

This, officials of COCOBOD believe, offers a clear indication that the target of producing 850,000 metric tonnes is within reach.  

"The Cocoa season started in October 2017, and COCOBOD hit 650000 metric tonnes in February 2018. So how can anybody imagine that the 850000 target cannot be reached," the source wondered.

It added: “From the foregoing, it would also not be right for anybody to suggest that COCOBOD may not be able to repay its $1.3billion loan facility.”

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