Ghana targets 50% local cocoa processing to capture more value

Ghana and Cote D'Ivoire are the world's top cocoa producers. They are working to process more cocoa beans domestically. This will help them capture a larger share of the global chocolate market.

At the African Development Bank (AfDB) Annual Meetings, Ghana's President John Dramani Mahama spoke about this issue. He noted that both countries supply most of the world’s cocoa. However, they earn only a small portion of chocolate sales profits.

Currently, Ghana processes about 40% of its cocoa locally. Cote D'Ivoire has reached 50%. Both nations aim to increase these processing rates in the coming years.

They face challenges exporting finished products to major markets like Europe and the U.S. "The system is rigged against us," Mahama said. He referred to non-tariff barriers that hinder African producers from selling chocolate abroad.

Mahama pointed out that European processors encounter fewer obstacles in Africa. The push for domestic cocoa processing aims to reduce reliance on raw material exports. It also seeks to create jobs at home.

Ghana and Cote D'Ivoire have long dominated cocoa production. However, most value addition occurs outside their borders when turning beans into chocolate bars. Mahama expressed hope that Ghana can match Cote D'Ivoire's 50% processing rate within five years, with plans for further growth.