The 2027 World Cocoa Foundation (WCF) Partnership Meeting will be held in Accra and the country seeks to use the unique opportunity to push for fairer financing arrangements for cocoa-producing countries, and attract investment into local cocoa processing.
Ghana Cocoa Board (COCOBOD) together with the World Cocoa Foundation announced Accra will host the global cocoa industry gathering from March 16-18, 2027, bringing together governments, chocolate manufacturers, farmer groups, financial institutions and development partners.
COCOBOD Chief Executive Dr. Randy Abbey said Ghana intends to use the meeting to press international buyers and industry partners to assume a greater share of the financial burden associated with sustainable cocoa production.
Dr. Abbey said should financing obligations continue to fall disproportionately on farmers and origin countries, then compliance with emerging sustainability and traceability requirements risked becoming “a tax on the poor”.
Therefore, COCOBOD intends to use the summit to advocate for “a fair, transparent pricing structure that reflects the true cost of sustainable production”. The cocoa sector regulator also seeks make a case for investment into domestic cocoa processing, value addition and the rehabilitation of diseased cocoa farms.
The global cocoa industry faces mounting supply-side pressures from climate change, ageing farms and the spread of Cocoa Swollen Shoot Virus Disease across West Africa, alongside concerns over declining farmer incomes despite recent volatility in global cocoa prices.
Currently, Ghana is expanding investments in climate-smart agriculture, traceability systems and the rehabilitation of diseased farms under the direction of Finance Minister Cassiel Ato Forson.
“On a daily basis, the Minister is working to ensure the financial viability and long-term survival of the cocoa sector,” Dr. Abbey added.
Cocoa remains strategically important to Ghana’s economy as a major source of export earnings, rural employment and foreign exchange inflows, although production has come under pressure in recent years due to disease outbreaks, illegal mining activities, weather shocks and financing constraints.
Chris Vincent, President of the World Cocoa Foundation, said the sector was confronting simultaneous challenges ranging from disease outbreaks and climate-related disruptions to income pressures facing farmers.
Sustainability discussions had historically focused heavily on supply chain compliance without adequately addressing farm-level economics.
thebftonline
