Ghana’s Cocobod to buy more next season, seal $2 bln loan

ACCRA (Reuters) – Ghana cocoa industry regulator Cocobod will buy at least 950,000 tonnes of cocoa in the 2014/15 crop year, which begins in October, up 5.5 percent on forecasts for the current harvest, according to a parliamentary document and an official.

Ghana, the world's No. 2 producer after Ivory Coast, will sign a syndicated loan of $2 billion from international banks in September to finance the purchases and related operations, James Avedzi, chairman of Parliament's finance Committee told Reuters.

The loan for the 2014/15 season was previously expected to be $1.8 billion. Cocobod is hoping to buy a cumulative 900,000 tonnes of cocoa in the current crop year which ends in September