- Ghana gets only $2 billion in terms of revenue from the $100 billion cocoa industry
- Ghana also exports 80% of it's cocoa beans in it's raw state
Ghana gets only $2 billion in terms of revenue from the $100 billion cocoa industry, despite producing 20% of the world’s cocoa beans.
According to the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, the country’s inability to add value to the cocoa beans affects it immensely financially.
He opined that Ghana exports about 80% of the cocoa produced in its raw form.
“Ghana is the second leading producer of cocoa as we account for roughly 20% 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.
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.
He also revealed that farmers who work hard for the harvest also get less than three percent of the US$100 billion.
“The farmers in Ghana who are producing about three bags per acre and are the anchor in the entire cocoa value chain get about only three per cent of this amount,” he stated.
He noted that Ghana’s cocoa production has been low in the last couple of years.
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Source: Yen Ghana