Business News of Wednesday, 23 June 2021Source: www.ghanaweb.com•Ghana is likely to reach a record 1 million-ton mark for cocoa harvest by the end of the 2021 cocoa season•Already cocoa farmers in Ghana have so far harvested 965,493 metric tons as of June 3, 2021•COCOBOD further plans to raise US$1.5 billion through syndicated loansMarket analysts have predicted Ghana is likely to reach a record 1 million-ton mark for cocoa harvest by the end of the 2021 cocoa season, Bloomberg has reported. Should the prediction come to fruition, market analysts believe it would be significant given that the last time such a feat was achieved was back in the 2010-11 cocoa crop year. Additionally, Ghana’s cocoa regulator said it has exceeded its 2020-21 cocoa production target and subsequently stretched the US$1.3 billion syndicated loan that was earlier raised at the beginning of the season in October 2020. It has also raised GH¢11.7 billion (US$2 billion) in cocoa produce bills between January and May 2021 and also increased bill sales in order to help refinance maturing obligations. COCOBOD further plans to raise US$1.5 billion through syndicated loans for the upcoming crop season in October 2021.

Source: GhanaWeb June 23, 2021 14:54 UTC