Ghana’s raw rubber sector has lost an estimated $70 million between 2024 and 2025 due to under-declaration of export revenues and export volumes exceeding official permits, a new report reveals.
According to an internal investigation, data obtained from the Ghana Revenue Authority (GRA) showed that the country exported 89.68 million tonnes of raw rubber in 2024.
However, the Tree Crops Development Authority (TCDA) did not issue a single permit for raw rubber exports that year.
In 2025, although TCDA issued permits for 13,000 tonnes, actual exports, excluding October and November reached 39,000 tonnes, exceeding permits by 26,000 tonnes.
The report highlights significant under-invoicing: TCDA had set minimum prices of GH¢8.62 per kilogramme in 2024 and GH¢9.08 in 2025, yet exporters declared average Free on Board (FOB) prices of just GH¢0.99 and GH¢1.91, respectively. This represents 12 percent and 22 percent of the actual value for 2024 and 2025.
“The scale of under-invoicing indicates systematic repatriation of resources from the Ghanaian economy,” the report stated. Section 15 of the Foreign Exchange Act, 2006 requires exporters to repatriate full proceeds through licensed banks, but in 2024, exporters returned only $6.17 million of the $55.83 million generated, while in 2025, $4.48 million was repatriated out of $26.03 million.
Local farmers, such as Mr George Eshun from Nzema East District, confirmed that raw rubber is sold at GH¢8.30 per kilogramme locally, but the market is open, and many sell to any willing buyer, including exporters.
Despite a national processing capacity of 171,460 tonnes annually, Ghana produced just 110,800 tonnes of raw rubber in 2025. This created a deficit of about 60,000 tonnes, leaving local factories underutilised.
Many firms now operate below 40 percent capacity, with job losses exceeding 35 percent. Apex Rubber Factory, for example, has not processed raw rubber since 2024.
To address the shortfall, the government imposed restrictions on raw rubber exports to ensure sufficient supply for local processing. Trade, Agribusiness and Industry Minister, Mrs Elizabeth Ofosu-Adjare, and Finance Minister, Dr Cassiel Ato Forson, confirmed measures aimed at protecting domestic industries and jobs.
The Association of Natural Rubber Actors of Ghana (ANRAG), led by Emmanuel Owusu, has also called for stricter enforcement at Tema Port to prevent unregulated exports and safeguard local processing capacity.
The report underscores the urgent need for stronger monitoring, compliance, and value capture in the rubber sector to protect Ghana’s economy, sustain local processing, and secure jobs for youth in the industry.
