African Cocoa and coffee farmers are calling for urgent support from global stakeholders to mitigate the impact of price volatility, despite a promising outlook for the commodities on global futures markets.
- +Cocoa, coffee farmers seek support amid price volatility
The farmers under the auspices of the Cocoa & Coffee Farmers Alliance Association of Africa (COCEFAAA), in a statement, noted that they face a paradox of price volatility while market valuations for cocoa and coffee are surging.
The farmers under the auspices of the Cocoa & Coffee Farmers Alliance Association of Africa (COCEFAAA), in a statement, noted that they face a paradox of price volatility while market valuations for cocoa and coffee are surging.
Adeola Adegoke, president of COCEFAAA, stressed that the global cocoa and coffee industries are entering a period of long-term growth, which presents a defining opportunity for Africa to transition from being a raw material exporter to a strategic market leader.
“The combined trajectory of the cocoa and coffee industries signals a massive wealth influx into the global food and beverage sector by 2031 and 2035,” he said.
He noted that the cocoa and chocolate market is projected to rise from $169 billion in 2025 to $246 billion by 2023, driven by increasing demand for dark chocolate on account of its health benefits, especially in Europe and Asia.
According to him, the global coffee market is projected to reach $486.2 billion by 2035, fuelled by the rapid premiumisation of coffee culture and a surge in Ready-to-Drink (RTD) options.
However, he warned that the growth of both industries is not being reflected in farmer incomes, saying that smallholder farmers are increasingly exposed to volatile pricing structures that often fall below production costs.
“African cocoa and coffee farmers are currently operating as the economic shock absorbers of the world’s appetite. When global prices fall below the cost of production, it is the farmer who absorbs the loss.”
“For many families, cocoa and coffee are not mere commodities; they are the only lifeline.” “Volatile market prices prevent farmers from affording the fertilisers, Inputs, labour hiring, or climate-resilient seedlings.”
Adegoke stressed that this imbalance undermines long term sustainability of the sector.
He identified three strategic pillars for Africa to capture a significant share of the global cocoa and coffee market value: research and development, value addition, and regional block collaboration and collective bargaining.
The association also called on exporters and manufacturers to move beyond short-term spot-market logic and implement the following structural changes as a matter of urgency –
Manufacturers must transition toward long-term purchasing agreements that guarantee a living income for farmers, regardless of market fluctuations, invest in farmers’ training and co-fund African-led research and development.
“Africa’s path to long-term stability involves looking beyond traditional Western markets,” he said.
“By aligning African production with Asian consumption trends, the continent can stabilise its future against the volatility of traditional markets,” he added.
