African Cocoa Farmers Push for $6,000 Floor Price, Continental Producers’ Alliance

June 25 () — The Cocoa and Coffee Farmers Alliance Association of Africa (COCEFAAA) has called for the establishment of a unified African cocoa producers’ bloc and the adoption of a minimum cocoa price of $6,000 per metric tonne to strengthen farmers’ earnings and reduce foreign influence over the continent’s cocoa market.

The association said a coordinated pricing framework would help African producers gain greater control over the commodity, even though they account for the majority of global cocoa production.

COCEFAAA Global President, Comrade Adeola Adegoke, made the call while commending the successful hosting of the 7th Steering Committee meeting of the Côte d’Ivoire-Ghana Cocoa Initiative in Abidjan.

According to him, the collaboration between Côte d’Ivoire and Ghana, which together produce about 60 per cent of the world’s cocoa, has demonstrated the benefits of coordinated action among producing nations.

Adegoke urged other major cocoa-producing countries, including Nigeria, Cameroon, Togo, Liberia, and Sierra Leone, to join a broader continental alliance that would coordinate production, pricing, and market strategy.

He noted that African cocoa producers remain vulnerable to sharp price swings driven by commodity exchanges in London and New York, despite supplying most of the raw material used in the global chocolate industry.

According to him, cocoa prices recently climbed above $11,000 per tonne before declining significantly, highlighting the volatility that continues to affect farmers and producing countries.

Adegoke argued that Africa receives only about 6 per cent of the estimated $165 billion global chocolate value chain, despite being the primary source of cocoa beans.

He said a continental producers’ bloc would improve bargaining power, enhance price stability, and ensure a greater share of industry value remains within producing countries.

“No single commodity exchange outside Africa should dictate the earnings of African farmers for cocoa produced on African soil,” he said.

The association maintained that a minimum floor price of $6,000 per tonne would provide greater income certainty for farmers, encourage investment in cocoa production, and support the long-term sustainability of the sector across Africa.