Ghana has secured purchase commitments from buyers in the United Arab Emirates and Saudi Arabia for domestically processed cocoa products, marking a step toward reducing dependence on raw bean exports and expanding higher-value cocoa exports.
The agreements, secured by Cocoa Marketing Company (CMC) Ghana Ltd. during trade engagements in Dubai and Riyadh, cover semi-finished cocoa products including cocoa liquor, butter, cake and powder, according to the company.
The commitments are expected to provide guaranteed demand for output from Ghana’s existing cocoa processing plants, supporting the government’s target of processing at least 50% of the country’s cocoa domestically instead of exporting raw beans.
Ghana, as the world’s second-largest cocoa producer, seeks to capture a larger share of the global chocolate value chain. Although the country earns billions of dollars annually from cocoa exports, most of the crop is shipped overseas as raw beans, where the bulk of value addition takes place.
In Dubai, CMC Managing Director Dr. Wisdom Dogbey held discussions with the Dubai Multi Commodities Centre (DMCC) on expanding market access for Ghanaian cocoa products among processors and commodity traders serving the Middle East and Asia.
In Saudi Arabia, the company secured commitments to supply Ghanaian semi-finished cocoa products to manufacturers serving the Kingdom’s expanding confectionery and food-processing industries. The initiative aligns with Saudi Arabia’s Vision 2030 strategy to diversify its economy by expanding domestic manufacturing and food production.
The agreements also support Ghana’s broader strategy of diversifying export markets beyond traditional destinations in Europe while increasing utilisation rates at domestic processing facilities.
Expanding exports of cocoa liquor, butter, powder and cake could help Ghana earn more foreign exchange per tonne of cocoa produced, create additional industrial jobs and reduce its exposure to volatile international cocoa bean prices.
The latest market expansion efforts reflect CMC’s strategy to secure long-term buyers before increasing domestic processing capacity, addressing one of the key challenges facing cocoa-producing countries seeking to move further up the global value chain.
