Cocoa bean exports to EU: Ghana ranked 4th in Africa – Fitch Solutions
The UK-based firm said while domestic processing offers one avenue for capturing greater value, it expects sustainability and traceability requirements to become increasingly important in shaping export flows, particularly for exports destined for the EU.
Ghana has been the fourth largest exporter of cocoa beans to the European Union (EU) between 2021 and 2024, accounting for an average of 53.7% of total cocoa bean exports to the bloc, according to Fitch Solutions. The Democratic Republic of the Congo topped the list with 74.7%, followed by Nigeria at 57.8% and Côte d’Ivoire at 57.4%.
Fitch Solutions suggests that while domestic processing could help Ghana capture more value from its cocoa exports, sustainability and traceability requirements are likely to shape export flows, particularly to the EU. The UK-based firm notes that "West Africa remains the dominant player in global cocoa markets, accounting for roughly 65% of global production and over half of global cocoa bean exports," but adds that the region's role in the cocoa value chain is mainly confined to upstream production.
Nigeria, Côte d’Ivoire, Ghana and Cameroon together produce about 70% of the world's cocoa yet only account for around 6% of the value of a finished chocolate bar, according to CNBC Africa. Fitch Solutions believes this traditional model of exporting raw cocoa beans for processing elsewhere will face increasing pressure in the coming years, with significant implications for global cocoa trade flows.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
