Purchase Of Cocoa Decline 20% y-o-y To 667,000 Tonnes

News: Ghanaian purchases of cocoa declared to the industry regulator Cocobod were reportedly 667,000 tonnes by July 2, down by nearly 20% y-o-y. The country, which purchased about 900,000 tonnes cocoa in the preceding crop year, lowered its full-year output forecast from 1mn tonnes to 750,000 owing to a drop in the Oct-June main crop yield. However, the decline in cocoa purchases indicates that Cocobod could even miss the revised target.

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