Trending Now - Cocoa Farmers in West Africa Face Challenges Amid Market Decline

WHO:

Manu Yaw Fofie, cocoa farmer in Ghana

Edward Karaweh, former general secretary of the General Agricultural Workers Union

François N’Gbin, cocoa farmer in Ivory Coast

Moussa Koné, president of the Ivorian cocoa farmers’ union

Mercy Amponsah, cocoa farmer in Ghana

WHAT:

Cocoa prices have sharply fallen, leading to economic hardship for farmers.

Cocoa bean yields for Fofie have declined from 300 bags to 50 bags in 2025.

Ghana slashed its fixed price for cocoa beans by 28% to 41,392 cedis ($3,881) per metric ton in January 2026.

Ivory Coast slashed the price paid to cocoa farmers by more than half to 1,200 CFA ($2.13) per kilogram ($0.97 per pound) for 2026.

Cocoa bean exports account for 40% of total export revenue in Ivory Coast and nearly 15% in Ghana.

Cocoa futures reached more than $12,000 per metric ton in 2024 before crashing to around $4,000.

WHERE:

Ghana

Ivory Coast

KONA, Ghana

WHEN:

Cocoa prices began to crash in recent months leading up to March 2026.

In January 2026, Ghana slashed its cocoa price.

In January 2026, Ivory Coast purchased an excess supply of cocoa beans from farmers.

WHY:

The decline in cocoa prices is attributed to supply outstripping demand.

Farmers are turning to illegal sand and gold mining due to the lack of profitability in cocoa farming.

HOW:

Farmers like Fofie are leasing parts of their land to illegal sand miners and gold miners.

Ghanaian authorities set a fixed price for cocoa beans at the beginning of every planting season to protect farmers from price fluctuations.

(UPDATED March 9, 2026 01:25 UTC)

Cocoa prices have sharply fallen in recent months, causing significant economic hardship for farmers in Ghana and Ivory Coast. For instance, cocoa farmer Manu Yaw Fofie has seen his yields plummet from 300 bags to just 50 bags, while Ghana has slashed its fixed price for cocoa beans by 28% to nearly $3,900 per metric ton. As a result, many farmers are turning to illegal sand and gold mining to make ends meet, leasing parts of their land to miners due to the lack of profitability in cocoa farming.