The nation’s cocoa sector faces a structural problem: global buyers, not producers, determine prices, restricting opportunities for value addition and economic growth. In a conversation with The High Street Journal, business leader Seth Adjei Baah discussed how limited control over cocoa pricing exposes farmers and the country to economic risks.
“If you don’t have control, that is how you are cheated,” Baah warned, emphasizing that cocoa prices should be determined by producers, not buyers.
Baah recalled a period when Ghana and Côte d’Ivoire, which together produce about 70% of the world’s cocoa, collaborated to negotiate better terms for farmers. “Human as we are, we want the best for ourselves. If Abidjan is paying 6,000 and Ghana is paying 4,500, farmers will cross the border to sell for 6,000,” he noted, highlighting the economic impact of inconsistent pricing and cross-border competition.
Such disparities, he explained, weaken Ghana’s bargaining power in global markets and leave farmers vulnerable to fluctuating international prices. “Unless Ghana matches competitive prices, farmers will continue to seek alternatives, undermining the agricultural base and national revenue,” he added.
Negotiating prices alone is insufficient. “Instead of selling raw cocoa at 4,500 or 6,000, we could command far higher prices, even 120,000, for finished goods,” he said. He urged Ghana to invest in cocoa processing industries to produce chocolate, spreads, beverages, and other finished products. Moving up the value chain allows the country to capture greater profits, reduce dependency on foreign buyers, and strengthen local economic growth.
Baah stressed that achieving pricing control requires strong systems, coordinated policies, and a clear national strategy. “Pricing power comes from unity and value addition. If Ghana and Côte d’Ivoire commit to processing cocoa locally and controlling supply, we can shift the balance of power in global markets,” he said.
He argued that structured approaches to support farmers, regulate the industry, and foster local processing would safeguard revenue, stabilize prices, and strengthen Ghana’s position internationally.
Cocoa is more than a commodity; it is a driver of economic development. Seth Adjei Baah emphasized that Ghana must stop letting buyers dictate cocoa prices. Adding value locally, building strong alliances, and asserting control over production and supply will allow Ghana to transform cocoa into a strategic asset, boosting prosperity for farmers, businesses, and the nation.
