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  2. Vol 2 Issue 2, 2020
  3. ECONOMIC AND FINANCIAL IMPLICATIONS OF DECLINE IN COCOA PRODUCTION IN THE BONO REGION OF GHANA
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ANTHONY YEBOAH

ECONOMIC AND FINANCIAL IMPLICATIONS OF DECLINE IN COCOA PRODUCTION IN THE BONO REGION OF GHANA

Cocoa production has been the backbone of Ghana’s economy for more decades. It employs over a million people throughout the country and source of livelihood for many in the country. This study assessed economic and financial implications of decline in cocoa production in the Bono Region (Jaman South Municipality, specifically Drobo). The study adopted a case study research design using cross sectional survey methods. Purposive sampling was used to select 100 respondents for the study. Data collected were analysed using, frequencies, means, standard deviation and analysis of variance. Findings of the study revealed that logistics challenges and farm related causes were the influential causes of decline in cocoa production. The study again established that there is a decreasing trend of cocoa production from 2015 to 2018 in the municipality. The study further revealed that the influential economic and financial implications of decline in cocoa production are net balances after expenses are not encouraging, retirement savings after farming operations are reduce, economic asset of the farmers are not achieved, shops selling cocoa chemical and insecticides are affected and cocoa farmers loan delinquency are increase. The study recommended Government agencies responsible for extension service should offer training programs for farmers’. It further recommended that investing in the logistic constraints of the farmers should be the priority of ministry of food and agriculture. The study suggests that a replica of the study should be conducted in most of the municipalities to give more national outlook for generalization.