Who really controls the price of cocoa?: Ghana and Côte d’Ivoire together grow nearly two-thirds of the world’s cocoa. So why are their farmers at the mercy of markets they do not control?

KEY FACTS AT A GLANCE

  Ghana’s farmgate price cut: GH₵3,625 → GH₵2,587 per 64-kg bag (−28.6%), effective 12 February 2026

  Côte d’Ivoire mid-crop price: 2,800 CFA/kg (main crop) → 800–1,000 CFA/kg (mid-crop), effective 1

March 2026

       Global cocoa price collapse: from over US$10,000/tonne (peak 2025) to approximately

US$3,100–4,100/tonne (Feb 2026)

  Combined market share: Ghana + Côte d’Ivoire = approximately 60% of world cocoa supply

  Farmer arrears in Ghana: over GH₵10 billion owed for beans already delivered

  Ghana’s current local processing rate: 30–40% of beans; target raised to 50% for 2026/27

  Estimated illegal cocoa exports from Ghana last season: 160,000 tonnes