Ghana is currently holding approximately 50,000 metric tons of unsold cocoa at its ports, the country’s Ghana Cocoa Board (COCOBOD) disclosed, citing weak international demand amid pricing pressures. The announcement was made by COCOBOD officials in Accra and reported by Reuters.
CEO Randy Abbey said buyers have been hesitant to purchase the remaining stock because Ghana’s cocoa prices are considered higher than alternative sources, despite more than 530,000 metric tons having been sold so far this season. He emphasised that the unsold volume reflects market sensitivities to pricing, as reported by Citi Newsroom.
The stockpile aligns with broader global cocoa market trends, where weak demand and falling futures prices have pushed stocks higher in major producing countries, including Ghana and Côte d’Ivoire. Trading data indicate cocoa prices are near multi-month lows, contributing to reduced competitiveness of Ghanaian exports, according to Trading Economics.
COCOBOD said it is engaging stakeholders to enhance market competitiveness and attract buyers for the unsold stocks while managing the financial impact on Licensed Buying Companies and cocoa farmers. The regulator noted that delayed purchases have affected farmgate payments for some growers, highlighting the broader consequences of market slowdowns on Ghana’s cocoa sector, Citi Newsroom reported.
