June 22, 2026
By Cynthia Alo
The Cocoa and Coffee Farmers Alliance Association of Africa, COCEFAAA, has warned that global cocoa prices could rise above $10,000 per tonne again as multinational food companies channel investments into laboratory-grown cocoa instead of supporting smallholder farmers across Africa.
The association said continued underinvestment in cocoa farmers, ageing plantations, climate change and the spread of the cacao swollen shoot virus are threatening supply and could trigger another price rally similar to that witnessed in 2024.
Global President of COCEFAAA, Comrade Adeola Adegoke in a statement made available to Vanguard, said the current investment pattern by major International chocolate companies amounts to an exit strategy from African farmers.
