COCOBOD is projecting an annual production target of 850,000 metric tonnes of cocoa beans for the 2012/2013 crop season. This comes after it signed a 1.5 billion dollar loan agreement with 31 local and international banks for cocoa purchases in the upcoming season. The production target remains same as last years’ and 250 thousand tonnes short of the historic 1 million tonnes production in 2010/2011 season. COCOCBOD’s Chief Executive, Anthony Fofie tells Joy Business bad weather conditions have influenced their projection. “We’re looking at around 850 thousand metric tonnes. You know, cocoa production is dependent on the weather and other practices like fertilizer application and all that. And the weather hasn’t been favourable this year” he said.