African cocoa farmers eye 70% of global production
The Cocoa Farmers Alliance Association of Africa has stated plans to take control of over 70 per cent of global cocoa production, noting that Africa has the competitive and comparative advantage to achieve the feat.
In a statement signed by the Global Coordinator of COFAA, Comrade Adeola Adegoke and made available to PUNCH Online on Monday to officially unveil its COFAAA chapter on February 12, 2025, in Oyo State, he said the landmark event aims to foster regional cooperation among African cocoa-producing countries, ensuring a more sustainable and farmer-focused cocoa industry.
According to Adegoke, Africa is not only the leading region for cocoa production but also faces economic challenges that limit its profits despite its significant contribution to global supply, saying that despite producing such a large share of cocoa, West African countries earn only about $10 billion annually from the cocoa industry, which is a small fraction compared to the global market worth approximately $200 billion.
Reports say currently, Africa controls only about 62 per cent of global cocoa output.
Speaking on the launch he said, “will follow the General Assembly meeting of the Cocoa Farmers Association of Nigeria (CFAN) at the same venue, bringing together key stakeholders, policymakers, and industry leaders to discuss the future of cocoa farming in Africa.
“With COFAAA, we are creating a unified front for smallholder cocoa farmers across Africa. Our goal is to develop strategies that will enhance sustainability, improve farmers’ livelihoods, and strengthen Africa’s influence in targeting a 70 per cent global cocoa output.
“COFAAA seeks to empower smallholder cocoa farmers, promote fair trade practices, and establish a strong support system for better productivity and market access.
“All cocoa stakeholders in Nigeria and across Africa are invited to participate in this historic event, which will mark a new chapter in the collective advancement of the African cocoa industry.”
