Cocoa bean exports to EU: Ghana ranked 4th in Africa – Fitch Solutions

Ghana secured the 4th position among African countries in terms of cocoa bean exports to Europe between 2021 and 2024, with an average share of 53.7%, according to Fitch Solutions. Cameroon led the pack, exporting 74.7% of cocoa beans to the EU, followed closely by Nigeria at 57.8%, and Côte d'Ivoire at 57.4%. The firm emphasized that while local processing could potentially increase value, growing demand for sustainability and traceability in the EU will significantly impact export flows, particularly for West African exporters.

Fitch Solutions warned that West Africa remains the dominant player in global cocoa markets, responsible for around 65% of production and over half of exports, but notes that most value addition occurs elsewhere, particularly in Europe. Nigeria, Côte d'Ivoire, Ghana, and Cameroon alone produce roughly 70% of global cocoa but only contribute about 6% to the value of a finished chocolate bar.

The report suggests that the traditional model of exporting raw cocoa beans for processing in Europe will face growing pressure, affecting the flow and direction of global cocoa trade. According to the International Trade Centre, cocoa beans made up a substantial portion of exports from Cameroon, Côte d'Ivoire, Ghana, and Nigeria in 2025, with shares ranging from 5% in Nigeria to 30% in Cameroon, averaging 18% across the four countries.

Processed and semi-processed goods, such as cocoa paste, butter, powder, and chocolate, accounted for much smaller shares, averaging 5% for cocoa paste, 4% for cocoa butter, and 1% for cocoa powder, while chocolate exports remained minimal in all four markets. The EU has consistently accounted for roughly two-thirds of global chocolate exports over the past five years, highlighting that most value addition in the cocoa supply chain occurs outside the producing countries.