COCOBOD reports a loss of 150,000 metric tonnes of cocoa in 2023 due to smuggling

February 21, 2024 7:20 AM

The Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo, has informed Parliament's Public Accounts Committee that in 2023, the Ghana Cocoa Board experienced a loss of over 150,000 metric tonnes of cocoa beans to smuggling.

Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo

During his appearance on Tuesday, February 20, 2024, he highlighted that cocoa production had declined due to illegal mining (galamsey) and disease attacks.

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Aidoo mentioned collaborative efforts with national security, stakeholders, and farm rehabilitation programs to tackle these challenges.

He also linked the COCOBOD’s GH¢2 billion loss in 2021 to the decline in the international market price of cocoa.

He stated that the price of cocoa on the global market has experienced a significant drop of over 30 percent in recent years, contributing to the substantial loss incurred.

COCOBOD CEO, Joseph Boahen Aidoo Pulse Ghana

He was quick and attributed the loss to the challenges to factors like smuggling and the increasing pace of illegal mining popularly known as galamsey.

Meanwhile, Ibrahim Murtala Mohammed, the Member of Parliament for Tamale Central, has called for the resignation of Joseph Boahen Aidoo for his alleged inability to address the decline in cocoa production and for falling short of the projected targets.