African farmers decry cocoa price decline, create forum to address pricing models
The Cocoa Farmers Alliance Association of Africa (COFAAA) has raised concerns over the impact of falling global cocoa prices on farmers across the continent.
After hitting a three-year low of $2,886 per metric tonne on February 27, 2026, cocoa prices have once again started to climb.
Data from Trading Economics shows that the cocoa price fell to $3,325 on Thursday, down 0.76 percent from the previous day’s price.
In a statement on Wednesday, Adeola Adegoke, global president of COFAAA, said cocoa farmers in countries like Côte d’Ivoire, Ghana, Cameroon, Nigeria, Uganda, Burkina Faso, Sierra Leone, and Liberia are going through a difficult time following a downturn in prices over the past year.
“No origin countries in Africa is currently immune from this terrible situation, which has negatively impacted the good enthusiasm exhibited by all of us during the cocoa price boom in 2024, which reached about $12,000 per metric tonne at the international market,” the statement reads.
“It is also quite unfortunate that many of our cocoa farmers, especially from Ivory Coast and Ghana, could not really enjoy the epic prices due to their current cocoa market models, one of which is semi-regulated with price setting, while the latter is totally regulated with price setting and sole exporting.
“Please note that the idea of setting up these market models by our respective governments is to protect our cocoa farmers from the price volatility of the market, which we are currently experiencing.
“At COFAAA, we find it concerning that the current pricing models do not seem to be delivering the intended benefits for cocoa farmers.
“These systems were designed to help stabilize prices across cocoa-producing countries, yet in practice, prices have been quickly adjusted to match international market fluctuations.”
Adegoke also expressed concern over developments in the global chocolate market, noting that rising prices have pressured sales and margins, particularly in Europe.
He added that despite the scale of global chocolate consumption, African cocoa farmers continue to grapple with low incomes, child labour risks, limited access to education, poor infrastructure, inadequate healthcare, and security threats such as illegal mining.
“These realities continue to affect the long-term sustainability of the sector. This brings us to an important and shared question: What is a fair and sustainable price for cocoa per ton today? One that supports both farmers at origin and buyers in international markets while also aligning with the evolving compliance and sustainability standards shaping the future of the industry,” the COFAAA president said.
Adegoke also highlighted concerns about the effectiveness of the living income differential (LID) — a $400 per tonne premium introduced by Ghana and Côte d’Ivoire — noting that its benefits may not be fully reaching farmers, possibly due to limited awareness at the grassroots level.
While describing the LID as a commendable initiative, he questioned its long-term sustainability and called for more clarity from regulators, including the Conseil du Café-Cacao, Ghana COCOBOD, and the Côte d’Ivoire–Ghana Cocoa Initiative.
COFAAA SETS UP FORUM TO ASSESS CURRENT DEVELOPMENTS
To address the challenges, the association said it has established a COFAAA global members assembly and empowerment forum to assess current developments and develop a unified continental position.
“The other reason for setting up the forum is to also find a way to assist our cocoa farmers across these origin countries through providing inputs and other safety nets that could one way or the other cushion the effects of the fall in cocoa prices experienced across the board of each cocoa-producing country,” Adegoke added.
According to the statement, the assembly will include about 20 cocoa farmers from each participating country, with confirmed representation from Côte d’Ivoire, Ghana, Cameroon, Nigeria, Uganda, and Sierra Leone.
The COFAAA president added that public discussions will begin on March 21, via a Zoom session to enable broader participation.
Adegoke said the initiative is aimed at strengthening unity and solidarity, positioning the continent for a stronger and more sustainable future.
