Kojo Oppong Nkrumah credits sharp rise in cocoa prices and production to previous administration

The Ranking Member of Parliament’s Standing Committee on the Economy, Kojo Oppong Nkrumah, has said that the significant increase in Ghana’s cocoa earnings is largely due to the work of the previous administration.

In an interview with the Asaase Breakfast Show via Zoom, he revealed that after the Economics Committee of Parliament met with the Bank of Ghana, it became clear that both global cocoa prices and export volumes had seen a sharp rise between January and June this year.

According to him, Ghana earned $2.1 billion from cocoa exports in the first half of 2025, compared to $762 million during the same period in 2024.

He explained that the Bank of Ghana attributed the surge in revenue to a 97% increase in the market price of cocoa, which moved from $2,694 to $5,313 per ton.

Mr. Oppong Nkrumah noted that the volume of cocoa exports rose from 150,000 tons to 244,000 tons, a 62% increase within the same period.

He emphasized that cocoa does not grow in six months, adding that it takes about three years to mature.

He therefore pointed out that the current increase in earnings was the result of cocoa planted under the previous administration.

He added that the combined effect of higher market prices and increased production volumes had led to the jump in revenue.

By: Jacob Aggrey

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