Ghana Agribusiness Q2 2020
We believe that the Ghanaian cocoa sector will experience limited production growth over our forecast period to 2023/24 after near record production in 2016/17. Depressed cocoa prices relative to recent record highs will lead to lower set prices, andeven though the government has pledged schemes in order to encourage yield growth, set prices will remain depressed. Weforecast cocoa prices to rise only moderately owing to strong global supply growth, although this outlook could changeconsiderably depending on ongoing joint marketing discussions with Côte d'Ivoire. We see long-term opportunities but notesignificant structural challenges in the Ghanaian palm oil sector.
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