The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Joseph Boahene Aidoo, has disclosed that Ghana has suffered a staggering loss of 120,000 metric tons of cocoa beans to smuggling between the year 2022 and 2023.
This significant loss poses a serious threat to Ghana’s cocoa industry, which is a key contributor to the national economy.
Speaking at a press conference in Accra on Monday, 14 October 2024, Mr. Aidoo expressed deep concern over the rising trend of cocoa smuggling, noting that this persistent issue has worsened in recent years, largely due to attractive prices offered by neighbouring countries like Togo and Burkina Faso.
He expressed concern over the growing trend, noting that despite ongoing efforts by COCOBOD and other government agencies, the fight against cocoa smuggling has not yielded the desired results.
He highlighted that the problem was especially pronounced in the 2022/2023 period, explaining that, the root cause of the hike in smuggling is due to the dynamics of the international cocoa trading system, which has created incentives for smugglers to exploit price differences between Ghana and its neighboring countries.
Mr Aidoo elaborated on the situation, revealing that between 100,000 and 120,000 metric tons of cocoa beans were illegally smuggled out of the country during the two years.
He explained that this illicit trade undermines the hard work of cocoa farmers and affects the country’s revenue, which relies heavily on cocoa exports.
“This smuggling crisis extend far beyond lost revenue; it threatens the sustainability and global reputation of Ghana’s cocoa industry,” he added.
