Joseph Boahene Aidoo, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), has announced that Ghana lost a staggering 120,000 metric tons of cocoa beans to smuggling between 2022 and 2023. This significant loss threatens the cocoa industry, a crucial sector of the national economy.
During a press conference in Accra on October 14, Mr. Aidoo expressed grave concern about the increasing trend of cocoa smuggling, which has worsened in recent years due to attractive prices in neighboring countries. Despite efforts from COCOBOD and other governmental agencies, progress in combating this illicit trade has been minimal.
Mr. Aidoo detailed that the illegal export of cocoa beans was particularly pronounced during the 2022-2023 period, driven by the dynamics of the international cocoa trading system. He explained that the system’s pricing discrepancies create incentives for smugglers to exploit the differences between Ghana’s prices and those in surrounding nations.
Source: DEW360.NET
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