Ghana and Côte d’Ivoire have agreed on June 16 to harmonize cocoa farm-gate pricing policies in a strategic move aimed at boosting farmer incomes, stabilizing the market, and reinforcing cooperation between the world’s two largest cocoa producers.
The agreement was reached at the Côte d’Ivoire–Ghana High-Level Summit on the Future of the Cocoa Economy held in Abidjan on Tuesday, where President John Mahama and President Alassane Ouattara issued a joint declaration outlining the framework.
Together, the two countries account for about 60 per cent of global cocoa output, placing them at the centre of global pricing dynamics and farmer welfare considerations.
Under the new arrangement, both nations will align farm-gate pricing structures, coordinate cocoa premiums, and synchronize crop calendars to reduce market distortions and improve producer earnings. The initiative is also expected to curb cross-border smuggling and strengthen their collective bargaining power in international markets.
The leaders reaffirmed that fair remuneration for cocoa farmers remains essential to the long-term sustainability of the sector and to economic stability in cocoa-growing communities.
They further acknowledged the progress made under the Côte d’Ivoire–Ghana Cocoa Initiative, including the implementation of the Living Income Differential, improved price coordination, and joint work on traceability and sustainability standards.
However, the declaration also highlighted persistent challenges facing the sector, including volatile global prices, climate change, illegal mining, and rising concerns over cocoa substitutes and stricter global sustainability requirements.
Beyond pricing reforms, the two countries also committed to deeper scientific collaboration to address cocoa diseases such as Cocoa Swollen Shoot Virus Disease, while expanding local processing and value addition to increase domestic consumption and export earnings.
In a forward-looking step, both governments announced plans to broaden the initiative to include other African cocoa-producing countries, aiming to strengthen Africa’s collective voice in the global cocoa economy.