ABIDJAN: Ghana's Cocoa Marketing Company (CMC) has sold a total of 600,000 tonnes of cocoa beans for the 2019/20 season, sources at Ghana's marketing board Cocobod said on Wednesday.
According to these sources, CMC has postponed about 50,000 tonnes of cocoa export contracts from the current crop that it will not be able to execute, until next season.
The rest of the production in the world's second biggest cocoa grower will be sold according to the level of production.
Ghana's annual cocoa production is between 850,000 and 900,000 tonnes, depending on weather conditions and diseases.
Ghana 2019/20 cocoa production is expected to be lower than the previous season because of swollen shoot diseases that prompted Cocobod to replant of 400,000 hectares of cocoa plants.
It will take at least 3 to 5 years for the replanted surfaces to come into production and fill the losses that will be recorded this year.
The decline in production could represent at least 30,000 tonnes from next season, buyers and exporters say Ghana is the world's second-largest cocoa producer after Ivory Coast.
CMC is part of Cocobod.
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