Cocoa farmers raise concern over persistent price volatility

The Cocoa and Coffee Farmers Alliance Association of Africa has identified persistent market volatility as one of the biggest threats to the sustainable development of Africa’s cocoa sector, warning that fluctuating prices continue to undermine farmers’ livelihoods and slow investment across the value chain. In a statement on Wednesday, speaking ahead of the cocoa & coffee fiesta Lagos, Nigeria 2026, scheduled for October 7 and 8, the Global President, COCEFAAA, Adeola Adegoke, said African cocoa farmers have demonstrated remarkable resilience despite years of unstable prices that have adversely affected income, productivity and sectoral growth. According to him, Africa remains the world’s leading cocoa-producing region, accounting for about 70 per cent of global output, yet many farmers continue to struggle with low and unpredictable returns on their investments. “Market volatility remains a major threat to cocoa development across Africa. The constant fluctuations in prices have created uncertainty for farmers, discouraged investment and affected the long-term sustainability of the sector,” he lamented. The group noted that while cocoa-producing countries such as Côte d’Ivoire, Ghana, Cameroon and Nigeria have sustained global supply for decades, farmers often bear the burden of market shocks and price instability. “Despite the critical role African farmers play in supplying cocoa to the world, many continue to face unstable livelihoods due to factors beyond their control. This situation calls for stronger collaboration among governments, industry players and development partners to protect farmers’ incomes and investments,” it stated. COCEFAAA said the forthcoming Fiesta would provide a platform for stakeholders to discuss practical solutions to the challenges confronting the cocoa and coffee industries, including price volatility, market access, sustainability and regulatory compliance. The association disclosed that discussions during the event would focus on African farmers’ income frameworks, de-commoditisation strategies, agroforestry expansion, carbon credit opportunities, integrated soil management and compliance with the European Union Deforestation Regulation. Related News WEF warns of rising global financial market instability Food prices jump 5% after Hormuz closure — W’Bank Market Volatility and Trading Opportunities He said the fiesta will herald Africa’s strength and commitment to the sustainability of the two dominant commodities across her origin countries and showcase in particular, Nigeria commitment towards the rebirth of coffee thr