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Ghana cocoa purchases as of May 23 down 34% yr/yr, COCOBOD data shows



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Adds context, detail on additional month of purchases

ABIDJAN, June 19 (Reuters) -Ghana's graded and sealed cocoa purchases since the start of this season's harvest on Sept. 1 stood at 412,833 metric tons as of May 23, down 33.7% from 623,109 tons by the same point last season, figures from marketing board COCOBOD showed on Wednesday.

Graded and sealed is cocoa that has been quality checked and sealed in bags by COCOBOD and is ready to be shipped.

Poor harvests in number two grower Ghana and its West African neighbour Ivory Coast - the world's leading producer - have seen global cocoa prices skyrocket this season.

Ghana's main crop harvest typically begins on Oct. 1 but was moved forward by one month this season in an effort to combat bean smuggling. That means the 2023/24 figure includes one additional month of purchases compared to last season.

Light crop production is expected to reach between 25,000 and 35,000 tons, compared to 15,000 tons last year, according to COCOBOD and exporters.

The 2023/24 cocoa season is expected to finish with a total of around 450,000 tons.

COCOBOD had initially forecast a production of 800,000 tons for this season.



Reporting by Ange Aboa; Editing by Sofia Christensen, Joe Bavier, Jason Neely and Alexander Smith

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