Research and Markets (http://www.researchandmarkets.com/research/ce6450b3/ghana_agribusiness) has announced the addition of the "Ghana Agribusiness Report Q2 2012" report to their offering.
BMI View: After experiencing a bumper crop in 2010/11, we foresee Ghanaian cocoa yields to be depressed in 2011/12 as weather is unlikely to be as good. While we forecast production to moderate in 2011/12 to 912,600 tonnes, we believe the Ghanaian cocoa regulator's decision to increase slightly its set price to buy cocoa will continue to encourage farmers to invest in their plantations With Ghana expected to do a better job of managing its natural resources than some of its less politically distinguished neighbours, income growth should occur across a wider spectrum of the population over the long term than is the norm in Sub-Saharan Africa.
Key forecasts
- Cocoa Production Growth to 2015/16: 9.7% to reach 1.1mn tonnes. Yield gains are likely to continue. Rising GDP should allow easier credit access to cocoa farmers wanting to expand production. This growth, combined with the ageing stock in Cte d'Ivoire, has some optimistic observers predicting that Ghana could overtake Cte d'Ivoire as the world's largest cocoa producer and exporter within a few years.
- Corn Production Growth to 2015/16: 16.9% to 2.0mn tonnes. Over the forecast period, we expect investment to encourage more modern, mechanised corn plantations to boost yields. Rising demand for corn as food and as poultry feed will also encourage production.
- Poultry Production Growth to 2015/16: 48.8% to reach 60,400 tonnes. The relative affordability of poultry partly explains this superior growth outlook, while the popularity of imported poultry products is also factored in to this forecast.
- 2012 Real GDP Growth: 7.7% (down from 14.7% in 2011; predicted to average 10.5% from now until 2016).
- 2012 Central Bank Policy Rate: 14.5% eop in 2012 (up from 12.5% in 2011).
- 2012 Consumer Price Index: 11.5% (up from 8.9% in 2011)
Read more inside Ghana Agribusiness Report Q2 2012
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