Joseph Boahene Aidoo the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD) has detailed that about 120,000 metric tons of cocoa beans were smuggled out of Ghana.
120,000 metric tons of cocoa beans were smuggled between 2022 and 2023.
At a press conference held in Accra on Monday, October 14, the COCOBOD CEO provided a thorough explanation of the situation.
The CEO said, “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.”
Ghana’s cocoa industry plays a vital role in its economy and cocoa smuggling poses a major threat to the economy of Ghana.
