Ghana and Ivory Coast Pledge Fairer Cocoa Prices for Farmers

Ghana and Côte d'Ivoire, which together produce more than half of the world's cocoa supply, have signed a joint declaration pledging closer cooperation on pricing, local processing and environmental protection. The agreement was announced this week as the two governments seek to secure better and more stable incomes for millions of smallholder farmers.

Under the declaration, the two countries committed to coordinate positions on cocoa pricing and expand cooperation on scientific research aimed at improving crop resilience, as farmers face pressure from disease, aging trees and shifting weather patterns. Both governments also pledged to accelerate investment in local processing capacity, an effort to capture more value from cocoa beans before export.

Cocoa prices have swung sharply in recent years, squeezing farmer incomes even as international chocolate prices remained elevated. Officials in Accra and Abidjan said the joint approach was intended to give the two producers greater leverage with international buyers and to reduce the volatility that has destabilized farming communities across the region.