Ghana expects 5.8 percent increase in cocoa output in 2020/2021

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GHANA expects cocoa output of around 900,000 tonnes in the 2020/2021 season, up 5.8 percent from the forecast for 2019/2020, the country’s Cocoa Board (Cocobod) said, according to a parliamentary report published on Wednesday.

Ghana is the world’s second-biggest cocoa producer. Its growing season runs from October to September.

The report also said the Cocobod planned to raise $1.3bn in syndicated loans to fund cocoa purchases during 2020/21 from a consortium of banks and financial institutions, with the government as guarantor.

The loan will carry annual interest of one month Libor plus 1.75 percent, a commitment fee of 0.62 percent per year and an upfront flat fee of 1.25 percent.

 

 

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