The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Joseph Boahene Aidoo, has reported that Ghana lost an alarming 120,000 metric tons of cocoa beans to smuggling between 2022 and 2023.
This significant loss poses a serious threat to the country’s cocoa industry, which is vital to the national economy.
Cocoa smuggling has long been a challenge in Ghana, but the situation has worsened recently, driven by the more favorable prices in neighboring countries. During a press conference in Accra on October 14, Mr. Aidoo expressed deep concern about this growing trend, noting that, despite the efforts of COCOBOD and other government agencies, little progress has been made in combating the illegal trade.
He explained that between 100,000 and 120,000 metric tons of cocoa were smuggled out of Ghana during the past two years, particularly in the 2022-2023 period. Aidoo attributed the increase in smuggling to the dynamics of the international cocoa trading system, which incentivizes smugglers to take advantage of price disparities.
“About 100 to 120,000 metric tons of cocoa was smuggled out of Ghana, especially in the last two years. The international market trading system is inverted, meaning that the spot price has become more favorable,” he stated.
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