Ghana gets only $2bn from $100bn cocoa industry— COCOBOD CEO

Despite producing about 20 per cent of the world’s total cocoa beans, Ghana gets only $2 billion in terms of revenue from the $100 billion cocoa industry, Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Mr Joseph Boahen Aidoo, has disclosed.

This is due to the inability of the country to add value to its cocoa beans, as about 80 per cent of the cocoa produced is exported in its raw form.

Ghana is the second leading producer of cocoa as we account for roughly 20 per cent of the world cocoa production but the income we get from the entire cocoa value chain which involves production, processing and manufacturing of chocolates is just $2 billion,” he said.

Mr Boahen Aidoo said this when some executive members of the Standard Group visited COCOBOD.

“Together with Cote d’voire, we produce about three million tonnes of cocoa beans which translate into about 60 per cent of the world’s cocoa but the revenue generated from the sale of cocoa for the two countries doesn’t even add up to $6 billion, and this is sad,” he noted.