Ghana Lowers 2024-25 Cocoa Harvest Forecast on Weather Concerns
- Harvest in year through August 2025 seen around 617,500 tons
- Supply shortfall fears drove futures to record highs this week
A farmer attends to cocoa pods ahead of the harvest in Kwabeng, Ghana.
Photographer: Paul Ninson/BloombergThis article is for subscribers only.
Ghana cut its cocoa harvest forecast for a second time this season, a setback that risks further fanning a price rally that’s already hit both chocolatiers and consumers.
The world’s second-largest grower has trimmed its outlook for the season that began in September by 5%, following recent on-the-ground crop surveys, according to people familiar with the matter.