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July 26, 2011

Ghana sees cocoa output hitting one milllion tonnes

Cocoa output in Ghana this season should hit a million tonnes by the end of August, the industry regulator said on July 18, enabling it to reach an official target that had been set for the 2012/13 season two years early.

"Total output now is more than 980,000 tonnes and we should be hitting 1 million by August ending," Cocobod Deputy Chief Executive Yaw Adu-Ampomah said.

His comments came as cocoa purchases declared to Ghana's Cocobod jumped 164 percent to 43,841 tonnes from the start of the light crop in mid-June to July 14, data from the industry regulator showed.

Total purchases for the fourth week were 4,447 tonnes, down from 7,444 tonnes in the third week.

Cocobod has projected purchases of up to 80,000 tonnes of cocoa during the 11-week light crop, which is mainly sold to local processing firms.

Ghana, the world's second largest cocoa producer after Ivory Coast, has registered a new record cocoa crop in the current season, after the preceding main crop also hit a record of 916,000 tonnes.

Adu-Ampomah said a final review of the main crop last week had increased the tally to 940,000 tonnes, from 916,000 tonnes initially announced.

Cocobod has attributed the significant jump in production this season mainly to increased fertiliser application, excellent weather conditions and better disease control, although analysts say figures have been inflated by smuggling from neighbouring top grower Ivory Coast.

Reuters

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