Cocoa revenue to increase this year

Wednesday 9th April , 2014 11:50 am

Ghana-cocoa-exports-hit-as-stevedores-strike-at-TakoradiGhana’s revenue from cocoa is likely to significantly improve this year.

Ghana which is the world’s second largest producer of cocoa and gold lost a whopping sum of 1.3 billion dollars in export revenue last year.

This was as a result of declines in the prices of the two commodities on the international market.

Latest projections for 2014 however indicate that the price of cocoa will average 3,200 dollars per tonne by the end of this year from the current price of 2,955 dollars per tonne.

According to the Bank of Ghana favorable price developments on the international markets as well as higher inflows could impact external sector performance.

It believes while gold and oil revenues will be flat cocoa revenue will improve.

By:  Vivian Kai Mensah/citifmonline.com/Ghana

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