Close-up of ripe cocoa pods from Cameroon, highlighting sustainable farming practices for global chocolate markets.
Ghana and Côte d’Ivoire, which together produce most of the world’s cocoa, have agreed to coordinate pricing policies in a bid to reduce smuggling, stabilize supplies, and strengthen their influence in global markets. The agreement includes harmonizing producer pricing principles, increasing data sharing, aligning crop calendars, and creating a technical task force to oversee implementation. The move follows years of challenges for both countries, including declining production due to disease, aging farms, adverse weather, and financing constraints. While higher global cocoa prices have boosted export earnings, output has fallen sharply, particularly in Ghana. Officials hope closer cooperation will reduce cross-border smuggling driven by price gaps, support farmer incomes, and strengthen leverage with global buyers.
Business Insider Africa