Cocoa sector must become more resilient, prosperous and profitable – Ato Forson

Minister for Finance, Dr. Cassiel Ato Forson, has called for a comprehensive transformation of the cocoa sector, emphasizing the need to build a more resilient, profitable, and sustainable industry capable of improving the livelihoods of millions of farmers across Ghana and Côte d’Ivoire.

Speaking as Chair of the 7th Steering Committee Meeting of the Côte d’Ivoire-Ghana Cocoa Initiative in Abidjan, Côte d’Ivoire, Dr. Forson underscored the importance of stronger collaboration between the world’s two largest cocoa-producing countries in addressing the challenges confronting the global cocoa industry.

According to the Finance Minister, the future success of the cocoa sector depends on strategic partnerships, coordinated policies, and a shared commitment to protecting the interests of cocoa farmers while strengthening the economic fortunes of both nations.

Addressing stakeholders at the high-level meeting, Dr. Forson stressed that the cocoa sector must evolve beyond its current challenges and become a more prosperous and competitive industry.

“The cocoa sector deserves to be transformed into one that is more resilient, prosperous, and profitable for the benefit of both our countries and our farmers,” he stated.

He noted that cocoa remains a critical pillar of the economies of both Ghana and Côte d’Ivoire, contributing significantly to export earnings, employment, rural development, and foreign exchange generation.

However, he warned that persistent challenges continue to threaten the long-term sustainability of the industry and the welfare of cocoa-growing communities.

Dr. Forson highlighted the strategic importance of cooperation between Ghana and Côte d’Ivoire, which together account for a substantial share of global cocoa production.

He explained that closer engagement between the two countries would enable them to better manage industry risks, coordinate market interventions, and strengthen their influence within the global cocoa value chain.

According to him, both nations face similar challenges, including volatile international cocoa prices, climate change impacts, illegal mining activities affecting farmlands, crop diseases, ageing farms, and rising production costs.

By working together more effectively, he said, Ghana and Côte d’Ivoire can develop common strategies to protect farmers and enhance the sustainability of cocoa production.

“As the world’s two leading cocoa-producing countries, we must engage more consistently and strategically to protect our economies. By doing so, we can better anticipate challenges, mitigate shocks, and shape the future of the industry rather than merely reacting to its disruptions,” Dr. Forson stated.

The Finance Minister emphasized that all efforts to strengthen the cocoa sector must ultimately deliver tangible benefits to cocoa farmers, who form the backbone of the industry.

He noted that improving farmer incomes, enhancing productivity, and creating more sustainable farming systems should remain central objectives of the Ghana-Côte d’Ivoire Cocoa Initiative.

Dr. Forson argued that stronger cooperation should not be viewed merely as a diplomatic exercise but as a practical tool for improving living conditions in cocoa-growing communities and securing the future of the industry for generations to come.

He urged members of the Steering Committee to focus on actionable policies and measurable outcomes that would directly benefit farmers and strengthen the competitiveness of the cocoa sector.

The Finance Minister also pointed to growing uncertainties in global commodity markets, stressing that cocoa-producing countries must become more proactive in responding to external shocks.

He said climate-related risks, fluctuating international demand, supply chain disruptions, and market speculation continue to create challenges for cocoa-producing economies.

According to him, coordinated action between Ghana and Côte d’Ivoire can help reduce vulnerabilities and ensure that producers receive fair value from the global cocoa trade.

Industry experts have long argued that greater collaboration between the two countries could improve their bargaining power and help secure better prices for cocoa farmers.

Dr. Forson revealed that efforts to deepen cooperation between the two countries will receive additional support at the highest political level.

He announced that President John Dramani Mahama of Ghana and President Alassane Ouattara of Côte d’Ivoire are expected to hold a high-level meeting aimed at reaffirming the strategic partnership between the two nations and their shared commitment to the cocoa sector.

The anticipated meeting is expected to focus on strengthening bilateral cooperation, promoting sustainable cocoa production, and advancing initiatives designed to improve farmer welfare and industry resilience.

The Côte d’Ivoire-Ghana Cocoa Initiative continues to serve as a key platform for collaboration between the two cocoa-producing giants.

Stakeholders believe that enhanced cooperation, policy coordination, and sustained investment in the sector will be crucial in addressing emerging challenges and ensuring the long-term sustainability of global cocoa production.

As discussions continue in Abidjan, industry leaders remain hopeful that stronger partnerships and practical reforms will help create a more profitable and resilient cocoa sector that benefits farmers, supports national economies, and secures the future of one of West Africa’s most important agricultural industries.