Cocoa: Ghana, Ivory Coast seek OPEC-style alliance
Chocolate prices are soaring even as disillusionment sweeps through cocoa fields in west Africa.
Prices have crashed nearly seventy-five percent from their peak in 2024.
Now, the world's biggest producers - Ghana and Ivory Coast - are fighting back with a plan straight out of OPEC's playbook.
Presidents Alassane Ouattara and John Mahama have agreed to revive what's being called the 'Cocoa OPEC', a coordinated strategy to harmonize farmgate prices and align crop calendars across both countries. They have invited Cameroon and Nigeria, the region's smaller producers, to join.
