Elizabeth Ofosu-Adjare sets 50% target for local cocoa processing

The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has announced a strategic initiative to process at least 50% of Ghana’s cocoa production domestically. This policy shift is designed to insulate the national economy and local farmers from the extreme volatility of global commodity markets. By moving away from a primary reliance on raw cocoa bean exports, the government aims to retain more value within the country through the production of finished and semi-finished cocoa goods.

The urgency of this transition was highlighted by a dramatic decline in global cocoa prices, which fell from a peak of US$10,000 per tonne in early 2025 to approximately US$4,000 per tonne by early 2026. Minister Ofosu-Adjare emphasized that such price fluctuations underscore the necessity of domestic value addition to safeguard the incomes of cocoa farmers and stabilize export earnings. The government believes that local processing will not only protect against market shocks but also serve as a significant driver for job creation.

Ghana is well-positioned to meet this 50% target, with an existing domestic grinding capacity that exceeds 500,000 metric tonnes. This initiative aligns with the country's broader industrialization goals, which have already seen positive results; non-traditional exports reached a record US$5 billion in 2025, largely supported by processed and manufactured goods. The government is now looking to replicate this success across the cocoa sub-sector by enhancing industrial infrastructure and attracting new capital.

To facilitate this growth, the government is actively seeking international partnerships and technology transfers. Speaking at the EU-Ghana Agribusiness Exhibition Forum, Ofosu-Adjare invited European investors to engage in joint ventures with Ghanaian firms. To support these manufacturing ambitions, the government has also initiated the development of a specialized industrial park in Tema, intended to serve as a hub for agribusiness processing and export-oriented manufacturing.