Cocoa purchases declared to Ghana's industry regulator stood at 671,351 tonnes between the start of the 2016-17 season on October 1 and March 9, 1.5 percent higher than the same period last season, Cocobod data showed. The figure, representing purchases for the first 23 weeks of the season, was up from 661,583 tonnes purchased in the world's number two cocoa producer in the same period last season. Total purchases for the week ending March 9 rose to 8,368 tonnes from 5,634 tonnes the previous week, the data seen by Reuters on Monday showed.
Cocobod's new chief executive, Joseph Aidoo, has said he expects this year's output to be about 800,000 tonnes, lower than the regulator's initial forecast of 850,000-900,000 tonnes. Cocobod sources told Reuters there were signs the light crop harvest season could be better than anticipated. "We are having proportionate rains and the young pods are responding well it bodes well for the light crop," the source said, adding that Cocobod had no plans to revise its forecast.
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