According to Ghana’s Cocoa Board (COCOBOD) parliamentary report published on August 12, the country is expecting around 900,000 tonnes of cocoa output in the 2020/2021 season.
The number projected by Ghana shows an upward trend of 5.8 per cent from the forecast for 2019/2020. It must be noted that Ghana is the world’s second largest producer of cocoa where growing season runs from October to September.
The report further added that the COCOBOD had planned to raise $1.3 billion in syndicated loans aimed for funding cocoa purchases during 2020/21 from a consortium of banks and financial institutions, with the government as guarantor with an annual interest of one-month Libor plus 1.75 per cent along with a commitment fee of 0.62 per cent per year and an upfront flat fee of 1.25 per cent.
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