Ghana’s Cocoa Mid-Crop Ouput Set for Boost on Weather

Ghana’s cocoa-industry regulator expects to reach the crop harvest target of as much as 900,000 metric tons after weather patterns “changed in favor of the cocoa,” said Yaw Adu-Ampomah, deputy chief executive officer.

“We are quite close, the difference is not significant,” he said in an interview yesterday in Accra, the capital, declining to give figures.

Purchases accelerated near the end of the main-crop season, which closed yesterday in the world’s second-biggest grower of the chocolate ingredient, he said. The minor season will begin later in June. “The weather will favor the light crop,” said Adu-Ampomah.

After reaching a record of more than 1 million tons in the 2010-11 season, Ghana lowered its forecast to 850,000 tons to 900,000 tons after mid-season dry weather and strong winds curbed harvests.

The main-crop cocoa harvest was seen as “fairly good,” said Noah Amenyah, a spokesman for the state-owned board.

Cocoa for July delivery fell 0.9 percent to 1,458 pounds ($2,229) per ton by 10:17 a.m. in London.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE