Ghana, where cocoa generates around $3 billion annually, is taking steps to add more value to its exports by processing cocoa domestically rather than exporting it raw.

Local companies, such as Plot Enterprise Ghana, are now producing cocoa butter and powder within the country, boosting local industrial activity.

Support from the African Export-Import Bank has helped Plot Enterprise expand production capacity, increase plant utilization to 90%, and strengthen domestic processing capabilities.

The shift toward local processing enables Ghana to capture more value from cocoa exports, create jobs, and stimulate industrial growth.

It also reduces the country’s dependence on raw commodity exports, improving resilience and competitiveness in the global cocoa market.

This initiative reflects a broader African trend to move from exporting raw materials to producing value-added goods, promoting industrialization and sustainable economic development.

African business analysts and industry leaders are raising alarms over collapsing returns for cocoa farmers, as prices for West African cocoa have slumped by over 70% from 2024 highs to roughly $3,600 - $4000 per ton.

Low returns and reduced harvests are creating a severe income crisis for farmers, leading to farmgate price slashes and fears of massive rural poverty.