President Alassane Ouattara of Côte d'Ivoire and President John Mahama of Ghana agreed to revive a coordinated cocoa alliance on June 17 [1].
The move seeks to stabilize the global cocoa market and improve the livelihoods of farmers facing a significant slump in sales [2]. Because Côte d'Ivoire and Ghana together account for almost 60% of the global cocoa supply [3], their coordination can shift international pricing and availability.
The leaders met during a high-level bilateral session to discuss the framework of the "Cocoa OPEC" model [4]. While reports differ on the exact location of the meeting—with some citing the Ivorian capital of Abidjan and others citing Accra, Ghana—the objective remained consistent across accounts [4, 5].
The revived alliance focuses on three primary pillars: harmonizing farm-gate cocoa prices, aligning crop calendars, and expanding the membership of the bloc [1]. By synchronizing these elements, the two nations aim to prevent internal competition that often drives prices down for producers.
To further increase their market leverage, the two presidents intend to invite Cameroon and Nigeria to join the alliance [1]. Including these additional producers would consolidate a larger share of the world's cocoa output under a single pricing strategy.
The initiative comes as producers struggle to maintain profitability amid volatile global demand [2]. The leaders said the alliance is necessary to ensure that the wealth generated by the cocoa industry reaches the farmers rather than remaining with intermediaries and global processors.
“Côte d'Ivoire and Ghana together account for almost 60% of global cocoa supply”
The revival of the 'Cocoa OPEC' represents a strategic shift toward producer-led price control in West Africa. By coordinating supply and pricing, Ghana and Côte d'Ivoire are attempting to move away from being price-takers in a global commodity market. If Nigeria and Cameroon join, the bloc would hold an unprecedented level of influence over the global chocolate supply chain, potentially forcing international buyers to accept higher minimum prices to ensure regional stability.
