Ghana’s cocoa exports reached USD 1.84 billion in April 2025, marking a strong recovery from the lows seen earlier last year. However, this figure remains below the December 2023 peak of USD 2.15 billion, signaling that the sector is still on the path to full recovery.
According to the Bank of Ghana summary of economic and financial data for May 2025, after a sharp decline in early 2024, when exports dropped to just under USD 500 million in March, cocoa earnings steadily increased throughout the year. By December 2024, exports rose to nearly USD 1.94 billion. April’s latest numbers show continued improvement, even as volumes have yet to return to their highest levels.
Price trends provide further context. International cocoa prices climbed above USD 11,000 per tonne in early 2025 before settling at around USD 8,530 in April. Similarly, Ghana’s realized export prices increased from approximately USD 2,800 per tonne in April 2024 to over USD 5,300 earlier this year, before easing to about USD 4,650 by April.
While strong prices have supported export earnings, production volumes remain constrained by challenges such as weather conditions and infrastructure. These factors continue to limit Ghana’s ability to fully capitalize on favorable market prices.
Overall, the cocoa sector shows promising growth, but Ghana has yet to reclaim the export heights it reached in 2023. The coming months will be crucial for the country’s cocoa producers as they work to sustain this upward momentum.
