Africa Must Set Cocoa Prices, End Raw Bean Exports — COFAAA President
The Global President of the Cocoa Farmers Alliance Association of Africa (COFAAA), Comrade Adeola Adegoke, has called on African nations to take full control of the global cocoa economy by ending the export of raw cocoa beans and investing in local processing industries.
Adegoke made the call at the African Cocoa Summit and Awards 2025, held at the University of Ghana, Accra, where he said the current structure of the cocoa trade enriches foreign processors while keeping millions of African farmers in poverty.
Speaking on the theme “Building Sustainable Africa Cocoa Ecosystem: Unlocking Economic Potentials, Driving Inclusive Growth,” Adegoke lamented that although Africa produces 70 percent of the world’s cocoa, it receives less than 10 percent of the revenue generated from the global chocolate industry.
“It’s time for Africa to move from being a price taker to a price maker,” he declared. “We cannot continue exporting 100 percent raw cocoa beans and importing finished chocolate. Africa must industrialize its cocoa economy — for Africans, by Africans.”
He urged cocoa-producing nations to prioritize investment in domestic processing facilities to convert raw beans into finished products, which he said would generate billions of dollars in additional export revenue, create thousands of rural jobs, and stabilize the continent’s cocoa sector against global price fluctuations.
Adegoke warned that Africa risks losing its dominance in cocoa production to emerging competitors like Ecuador and Brazil, which are rapidly expanding local processing capacity. With coordinated policy and regional collaboration, he projected that Africa’s cocoa industry could grow into a $200 billion market anchored on value addition and fair pricing.
Delegates at the summit outlined three major reform priorities:
- African-led cocoa policy and governance to ensure trade contracts reflect African interests;
- Local processing and industrialization supported by government investment and tax incentives; and
- Farmer welfare and sustainability through better pay, climate resilience, and youth participation.
COFAAA’s Ghana Country Director, Mr. Nana Yaw Reuben Jr., emphasized that global cocoa decisions should no longer be made outside Africa. “You cannot hold cocoa talks in Europe and expect Africa to benefit fully,” he said, adding that cocoa must be recognized as a strategic African asset.
Adegoke also highlighted the need for gender equity, noting that women contribute up to 70 percent of cocoa farm labor yet own only a small fraction of farmland. He called for youth empowerment and gender-responsive policies to make the industry inclusive and sustainable.
Unveiling COFAAA’s new PPC Framework — a cooperative model connecting Producing, Processing, and Consuming countries — Adegoke said the initiative aims to retain more value within Africa’s cocoa value chain and ensure farmers earn fair rewards for their labor.
The summit concluded with the African Cocoa Awards, recognizing outstanding contributions to cocoa development. Honorees included Ghana’s COCOBOD, Nigeria’s NCMC, Cameroon’s ONCC, and Côte d’Ivoire’s Conseil du Café-Cacao, all lauded for promoting sustainable cocoa policies and innovation in the sector.
The event came amid growing concern that, despite record-high international cocoa prices — now exceeding $5,500 per tonne — African farmers continue to receive minimal benefit, underscoring the urgent need for structural reform in the continent’s cocoa economy.
COMMENTS