Economist Intelligence Unit(EIU) has predicted, as cocoa is the main export earner in the country may cause decline in revenue and may also stop improving its production in coming month.
In its latest report, the EIU predicts a significant fall of the price of the commodity on the global market.
The EIU is also predicting a decline in the production of cocoa for the 2018 season.
Together with a predicted decline in the price of the cocoa this is anticipated to negatively impact on the revenue from the export of cocoa. About 700,000 tonnes of cocoa production in the 2017/2018 season is being targeted by the COCOBOD.
Government of Ghana has already determined the producer price of cocoa beans for the 2017/2018 crop season at 7,600 cedis per metric tonne, regardless of the quick drop in the price of the commodity from 3000 dollars per tonne to about 1900 dollars by the end the previous year.
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