Business News of Friday, 22 May 2026

Source: GNA

Ghana plays critical role in global cocoa sector – Dr Cofie

Cocoa is a key export commodity for Ghana Cocoa is a key export commodity for Ghana

Country Director of the World Cocoa Foundation, Dr Mawuli Cofie says Ghana’s selection to host the 2027 Partnership Meeting reflects the country’s leadership in global cocoa production and the vital role cocoa farming communities play in sustaining the industry.

He said the global cocoa sector was facing major challenges, including climate change, crop diseases such as Cocoa Swollen Shoot Viral Disease (CSSVD), production risks, and economic uncertainty, all of which threaten farmer livelihoods and long-term supply security.

Dr Cofie made the remarks during the announcement that Ghana would host the 2027 World Cocoa Foundation Partnership Meeting from March 16 to 18, 2027, in Accra.

The meeting, themed “From Origin to Global Resilience,” will focus on the critical role of producing countries and farming communities in shaping the future resilience of the global cocoa economy and strengthening collaboration across the cocoa value chain.

The event is expected to bring together leaders from across the global cocoa and chocolate industry at a pivotal moment for the future of cocoa production.

Dr Cofie said resilient cocoa supply chains could only be achieved through resilient farmers, stressing that sustainability efforts must place greater emphasis on improving farm-level economics.

He noted that such efforts must ensure decent and predictable incomes, expand access to finance, increase productivity, and create attractive opportunities for young people to remain in cocoa farming.

He called for stronger collaboration among governments, industry players, research institutions, financial partners, and development organisations to address disease outbreaks, improve governance, finance farm rehabilitation, and support sustainable cocoa production.

Dr Cofie explained that the 2027 Partnership Meeting would provide a platform for practical discussions on farmer livelihoods, climate resilience, disease control, and the long-term sustainability of cocoa production.

He added that Ghana hosting the meeting for the first time underscores the importance of shaping global cocoa resilience close to the farming communities where cocoa is produced.

Dr Randy Abbey, Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), expressed gratitude to the Foundation for selecting Accra to host the Partnership Meeting in 2027.

He described the opportunity as a major milestone for Ghana and the cocoa sector.

Dr Abbey said the global cocoa industry was at a critical stage as climate change, swollen shoot disease, rising production costs, and price volatility continue to threaten cocoa farms and farmers’ livelihoods despite the multi-billion-dollar value of the global chocolate industry.

He stressed that sustainability must go beyond environmental concerns to focus on improving the welfare and incomes of cocoa farmers.

Dr Abbey noted that Ghana is investing in climate-smart agriculture, traceability systems, and measures to enhance quality and sustainability standards within the sector.

He said the government is also working to restore financial stability in the cocoa sector while advocating fairer pricing structures and increased local value addition to ensure producing countries retain greater value from cocoa production.

According to him, the 2027 Partnership Meeting will provide Ghana with a platform to push for stronger commitments from international partners, cocoa buyers, and chocolate manufacturers toward farmer support, disease rehabilitation, and sustainable production.

The event will coincide with the 80th anniversary of COCOBOD and Ghana’s 70th independence anniversary, making it a landmark occasion for both Ghana and the global cocoa industry, he added.