- In order to boost short- to medium-term national output, the Ghana Cocoa Board (COCOBOD) invested close to a billion Ghana cedis last year on the rehabilitation of old cocoa fields and those impacted by the swollen shoot viral disease (SSVD). The funds were utilized to maintain the restored farms before transferring them to farmers around the nation, prune old and unhealthy cocoa trees, and raise and plant seedlings.
- The investment in farmers and farms, according to COCOBOD CEO Joseph Boahen Aidoo, caused the board’s administrative costs to rise to GH¢3.4 billion last year. However, according to Aidoo, a portion of the money was utilized to promote crop producers’ welfare and the production of cocoa.
- Data indicate that a sizable amount of Ghana’s total cocoa farmlands are either moribund or impacted by the illness, which partially contributes to decreased output. The incurable SSVD lowers cocoa tree yields before killing them. According to the CEO of COCOBOD, the industry and the crop growers’ means of subsistence depend on the restoration of cocoa fields.
- In order to help farmers with their efforts toward higher productivity, the CEO promised them a timely and sufficient supply of inputs the following season. He listed the hand pollination, pruning, and irrigation plans that the board uses as a few of its methods for raising yield.
- The Deputy CEO of COCOBOD, who oversees Finance and Administration, stated that the board is taking responsible steps to restore its fortunes, which were severely damaged by the COVID-19 epidemic, in addition to striving to increase output. That devotion was amply demonstrated by COCOBOD’s return to profitability last year.
- According to COCOBOD’s audited records and the Auditor-General’s 2023 report on public boards and corporations, the organization earned a profit of GH¢2.3 billion in 2023 as opposed to a deficit of GH¢4.2 billion in 2022. In order to increase COCOBOD’s capacity to assist farmers and the industry, the deputy CEO was optimistic that the turnaround would be maintained and enhanced.
Source:
Graphic Online
