The Ghana Cocoa Board (COCOBOD) CEO, Joseph Boahene Aidoo, has disclosed 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 Ghana’s cocoa industry, which is a key contributor to the national economy.

The smuggling of cocoa beans has long been a challenge in Ghana, but the issue has worsened in recent years.

According to Mr Aidoo, the surge in smuggling is largely driven by the appeal of more favourable prices in neighbouring countries, where cocoa beans can fetch higher profits.

During a press conference in Accra on Monday, October 14, 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.

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.

The loss also threatens to weaken Ghana's position in the global cocoa market.

The COCOBOD CEO emphasized that the problem was particularly severe during the 2022-2023 cocoa season.

He attributed the spike in smuggling to the structure of the international cocoa trading system, which creates price discrepancies between Ghana and its neighbouring countries.

Smugglers have taken advantage of these price differences, leading to an increase in illegal cross-border activities.

Mr Aidoo called for greater collaboration between Ghana and its neighbouring countries to address the issue, stressing the need for stricter border controls and more effective monitoring mechanisms.

He reaffirmed COCOBOD's commitment to tackling the problem but acknowledged that without coordinated regional efforts, cocoa smuggling would continue to pose a major threat to Ghana’s cocoa industry and the livelihood of its farmers.

“About 100 to 120,000 metric tons of cocoa was smuggled out of Ghana, especially in the last two years. Now for last year and this year in particular, this has been so."

“This has been so because the international market trading system is inverted. When you say it is inverted, it means that today, the spot price has become more appreciable.”