Ghana lost 120K tons of cocoa to smuggling between 2022 and 2023 – COCOBOD CEO

Ghana's cocoa industry lost 120,000 metric tons of cocoa beans to smuggling between 2022 and 2023, according to Joseph Boahene Aidoo, CEO of the Ghana Cocoa Board (COCOBOD).

This poses a serious threat to the country's economy. Aidoo explained that the smuggling has worsened due to higher cocoa prices in neighboring countries, despite efforts to stop it.

He noted that the international cocoa trading system has created incentives for smugglers to take advantage of price differences, leading to a surge in illegal cocoa exports.