Cocoa farmers raise concern over persistent price volatility

The Cocoa and Coffee Farmers Alliance Association of Africa (COCEFAAA) has highlighted persistent market volatility as a primary threat to the sustainable development of Africa's cocoa sector. Fluctuating prices are undermining farmers' livelihoods and hindering investment across the value chain, according to the association.

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Market volatility remains a major threat to cocoa development across Africa. The constant fluctuations in prices have created uncertainty for farmers, discouraged investment and affected the long-term sustainability of the sector.

Adeola Adegoke, Global President of COCEFAAA, stated that African cocoa farmers have shown resilience amidst years of unstable prices, which have negatively impacted income, productivity, and growth. Despite Africa accounting for approximately 70% of global cocoa output, many farmers face low and unpredictable returns on their investments. "Market volatility remains a major threat to cocoa development across Africa. The constant fluctuations in prices have created uncertainty for farmers, discouraged investment and affected the long-term sustainability of the sector," Adegoke lamented.

The association noted that countries like Côte d’Ivoire, Ghana, Cameroon, and Nigeria sustain global supply, but farmers often bear the brunt of market shocks. COCEFAAA emphasized the need for stronger collaboration among governments, industry players, and development partners to safeguard farmers' incomes and investments. The upcoming cocoa & coffee fiesta in Lagos, Nigeria, is intended to be a platform for stakeholders to discuss practical solutions for challenges including price volatility, market access, sustainability, and regulatory compliance.

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Despite the critical role African farmers play in supplying cocoa to the world, many continue to face unstable livelihoods due to factors beyond their control. This situation calls for stronger collaboration among governments, industry players and development partners to protect farmers’ incomes and investments.

Discussions at the fiesta will focus on African farmers' income frameworks, de-commoditisation strategies, agroforestry, carbon credit opportunities, soil management, and compliance with the European Union Deforestation Regulation. COCEFAAA stressed that strengthening regional cooperation is crucial for addressing common economic, social, and environmental issues. The event will also mark the official launch of COCEFAAA as the first pan-African membership organization for cocoa and coffee farmers, aiming to amplify their voices and promote sustainable practices.

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Africa must speak with one voice in protecting the interests of its farmers and value chain actors. Through stronger regional collaboration, we can build more resilient and sustainable cocoa and coffee sectors that guarantee better returns for producers.