Ghana Faces Cocoa Crisis as Extreme Weather Halves Crop, Putting Vital $200 Million Loan at Risk

Ghana set to lose access to $200 million from a cocoa loan due to insufficient beans to secure the funds
Cocoa crisis caused by extreme weather and disease has halved Ghana's 2023/24 cocoa harvest forecast to 422,500-425,000 tons
Without loan payments, farmers can't afford essentials like seedlings and fertilizers for healthy crops
Ghana signed an $800 million cocoa loan in December at a record high 8% interest rate
Loan was from a group of 8 banks led by Rabobank, with participants like Standard Chartered and Societe Generale