Ghana 2014/15 cocoa output to fall to 730,000-750,000 T -Ecobank

DAKAR/ACCRA - Ghana's cocoa production for the 2014/15 season will fall to between 730,000 and 750,000 tonnes following an outbreak of fungal black pod disease, Ecobank said in a note on Friday.

Ghana is the world's second biggest cocoa exporter behind neighbour Ivory Coast and produced 900,000 tonnes of cocoa last season, according to its industry regulator, Cocobod.

"Ghana's cocoa production is set to fall significantly in the 2014/15 season, which could drive the world market into deficit after several years of surpluses," said the note, referring to an October-September season.

Farmers struggled to get access to fungicides to treat disease infected crops while shortages of financing and fertilisers have also hurt production, Ecobank said.

Cocobod told Reuters on Friday that it was maintaining its forecast for the current season at 850,000 tonnes, though it said it could revise that figure in the weeks ahead.

Cocobod had initially predicted output of around 1 million tonnes of cocoa at the start of this season in October.

The International Cocoa Organization has forecast Ghana's output this season at 810,000 tonnes.

Source: Reuters.com