Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
For generations, cocoa has played a crucial role in driving global economic growth. From a myriad of chocolate brands to cocoa-based beverages, this commodity has remained a favourite for many years.
Certain countries stand out for their significant production and export of this cash crop, contributing substantially to the global market.
Here are the top five cocoa-producing nations whose annual surplus continually boosts their gross domestic products (GDPs).
Cote d'Ivoire
Cote d'Ivoire continues to hold its position as the leading cocoa-producing nation globally by contributing 44% of the total production. According to a 2024 report from Statista, Cote d'Ivoire harvested around 1.45 million tons of cocoa beans in the 2012/2013 season. The country is projected to increase cocoa production to 1.8 million tons by the end of the 2024 season.
Ghana
As usual, Ghana closely follows, contributing 14% to the world's total cocoa production. According to Joseph Aidoo, the Chief Executive Officer of the Ghana Cocoa Board, the country is projected to produce between 650,000 to 700,000 tons of cocoa beans by the end of the 2023-2024 season, compared to an earlier forecast of 850,000 tons. The season concludes in September.
Ecuador
Ecuador typically produces an average of 337,000 tons of cocoa annually. However, in the 2022/2023 crop year, production increased to 454,000 tons. As the third-largest cocoa producer, it holds a 9% share of the global output. Nevertheless, forecasts indicate a slight dip in production for the 2023/2024 season, with an expected output of 430 thousand tons, lower than the previous year's yield.
Cameroon
Cameroon contributes 6% of the world's total cocoa production in 300,000 metric tons. Statista projects Cameroon to produce 300,000 tons of cocoa in the 2023/2024 crop year. The country has always shown its prowess in cocoa production, producing 225,000 tons of cocoa beans in 2012/2013.
Nigeria
Just like Cameroon, Nigeria contributes 6% of the global cocoa production. Visual Capitalist shows Nigeria produced around 280,000 tons of cocoa beans in 2022. The country, however, produced around 238,000 tons of cocoa beans in 2023, according to Statista. It is expected to improve with a production of about 270 thousand tons in 2023/2024.
