Cocoa farmers are grappling with the devastating effects of black pod disease, a fungal infection exacerbated by changing climate conditions. High humidity and fluctuating temperatures create favorable conditions for the spread of the disease, leading to significant crop losses.
Dr. Kwekucher Ackah, a crop scientist at the University of Cape Coast, notes that farmers often lack the resources to manage black pod disease effectively. He pointed out that the disease not only reduces the quantity of cocoa produced but also affects the quality of beans, thereby impacting their market value. He also highlighted that improper pruning and delayed application of fungicides further aggravate the problem.
Dr. Ackah advocates for government support through timely provision of fungicides, training on disease management, and financing for modern farming methods such as irrigation and agroforestry. He suggests that these interventions, coupled with research into disease-resistant cocoa varieties, could help farmers mitigate losses and enhance productivity, ensuring the long-term sustainability of the sector.
Cocoa is finishing 2024 as the top-performing major commodity, its massive annual gain driven by supply fears and market volatility.
On track for a 172% gain over the past 12 months, cocoa’s tear has been driven by a series of poor harvests in Ivory Coast and Ghana, where the majority of the crop is grown. Dwindling global stockpiles are putting pressure on both buyers and chocolate makers.
Record prices have thinned out liquidity to the lowest in over a decade, as margin calls climbed and positions became increasingly costly to hold.
