By Nwabueze Obed
In 2023, approximately 5 million tonnes of cocoa were produced globally. Côte d’Ivoire and Ghana alone accounted for 50% of the world’s cocoa production, while the entire West African region contributed 75%.
Meanwhile, Germany was the leading exporter of chocolate, with exports valued at over $5.6 billion—much of its raw material sourced from Africa. The same year, total retail sales of chocolate confectionery in the United States reached $24.5 billion.
As of 2024, the global chocolate industry is valued at $200 billion, with Americans spending an average of $144.90 per capita on chocolate.
Disturbing Facts on Cocoa (Excerpt from Dame Cacao):
- Europe remains the largest chocolate market, with projected sales of $45 billion in 2022.
- China’s chocolate market is expected to reach $4 billion by 2025.
- The global chocolate industry is valued at $127.9 billion in 2024.
- In 2021, Côte d’Ivoire and Ghana produced over 60% of the world’s cocoa supply.
- Cocoa farmers earn an average of only 6% of the final price of a chocolate bar.
- Over 80% of cocoa farmers in Côte d’Ivoire live on less than $1 per day.
The Paradox of African Trade
How can Africa develop if we continue exporting raw materials while importing finished products? We export cocoa but import chocolate; we export cashews but import processed nuts; we export crude oil but import refined fuel. This backward economic model perpetuates dependency on the imperialist West and the neo-colonialist economic infiltration of China. Without pragmatic measures to address this structural imbalance, Africa risks deepening its economic subjugation.
Economic Overview
- Côte d’Ivoire: Earned $3.68 billion from cocoa exports in 2023.
- Ghana: Generated over $2 billion from cocoa exports in the same year.
The global cocoa industry in 2024 is estimated to be worth $200 billion. Yet, despite producing 75% of the world’s cocoa supply, West Africa earns less than $10 billion annually.
The Path Forward
It is imperative for Africa to “STAY WOKE,” engage in internal reflection, and shift from being mere consumers and exporters of raw materials to becoming manufacturers. By controlling more of the production process, Africa can achieve sustainable economic growth and development.
(Nwabueze Obed is an advocate of social rights and justice, and a socio-political critic.)