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Cocoa crisis in Ghana: Plantations destroyed by illegal gold miners
Consequences of the cocoa crisis in Ghana: Illegal gold mining threatens cocoa farmers. Prices of chocolate expected to rise. Experts warn of long-term effects on the global market.
Cocoa crisis in Ghana: Plantations destroyed by illegal gold miners
The cocoa crisis in Ghana is having a drastic impact on farmers and the country's economy. Illegal gold mining, industry mismanagement, climate change and spreading disease are creating a devastating situation. Cocoa marketing authority Cocobod estimates that 590,000 hectares of plantations are affected by the deadly Badna virus, which will lead to plantation destruction in the long term.
Experts warn that Ghana has reached a tipping point that threatens West Africa's current dominance in the cocoa industry. This development could open up opportunities for emerging producers in Latin America. Rising prices for cocoa and chocolate are already being felt in international markets, leaving consumers worldwide facing higher costs for chocolate products.
The outlook for the coming years suggests that Ecuador could overtake Ghana as the world's second largest cocoa producer by 2027, followed by Brazil and Peru. This transition will take time, which will lead to price increases for cocoa products in the meantime. However, the real victims of this crisis are the small farmers in Ivory Coast and Ghana, who have hardly any alternative sources of income.