The Chief Executive of Dalex Finance and an experienced financial analyst, Joe Jackson, has highlighted increased risks to the Ghanaian cedi following a reduction in the cocoa harvest forecast by the Ghana Cocoa Board (COCOBOD) for 2025.
He noted that a decline in cocoa production could intensify the depreciation of the cedi.
Sharing his perspective on COCOBOD’s decision to lower projections for the 2024/2025 cocoa season.
He said: “The second downward revision of the anticipated cocoa harvest increases the risk of further devaluation of the Cedi in the days ahead.”
Additionally, he cautioned that 2025 might prove to be more economically challenging than initially predicted.
Joe Jackson also forecasted that the upcoming year could be more difficult and demanding than previously expected.
“It looks like 2025 will be even more challenging than anticipated. #FastenYourSeatBelt #COCOBODMismanagement,” he wrote on X.
The Ghana Cocoa Board has once again lowered its cocoa harvest forecast for the 2024/2025 season, marking a 5% reduction for the second time this year.
The board attributes this revision to adverse weather conditions and inadequate rainfall. According to norvanreports.com, the updated projection anticipates a harvest of around 617,500 tons.
Earlier in August, the board had already revised its initial forecast downward by 20%, reducing it from 812,500 tons to 650,000 tons.
The Harmattan season and dry weather typically present challenges for cocoa farmers, often resulting in reduced yields.


