Dr. Wisdom Dogbey
The nation has secured new export agreements to supply semi-finished cocoa products to buyers in the United Arab Emirates (UAE) and Saudi Arabia, which marks significant step towards expanding value addition and reducing Ghana’s reliance on raw cocoa bean exports.
The agreements, signed on July 7, 2026, by the Cocoa Marketing Company (CMC), a subsidiary of the Ghana Cocoa Board (COCOBOD), cover the supply of cocoa liquor, cocoa butter, cocoa cake and cocoa powder.
According to the CMC, the off-take agreements are expected to diversify Ghana’s export markets, strengthen its position in the global cocoa value chain and create new opportunities for locally processed cocoa products.
The company said the deals were concluded following trade engagements led by its Managing Director, Dr. Wisdom Dogbey, although it did not disclose the financial value of the agreements or the volumes of products to be supplied.
According to the company, the agreements are expected to deepen Ghana’s presence in the Gulf market while advancing the government’s target of processing at least 50 percent of the country’s cocoa locally before export.
The latest development comes at a time when the country’s cocoa industry is facing mounting challenges despite its strategic importance to the national economy.
Together with Côte d’Ivoire, Ghana accounts for about half of global cocoa production, yet the sector continues to contend with volatile international prices, declining demand from chocolate manufacturers, crop diseases, ageing plantations, illegal mining activities and delayed payments to farmers.
Nevertheless, cocoa remains one of the nation’s leading foreign exchange earners. Cocoa paste was the country’s largest single export product in 2025, generating US$789.3 million, while the cocoa sector contributes about 15 percent of Ghana’s total export earnings.
For the UAE, the partnership supports Dubai’s ambition to move beyond its traditional role as a commodity trading centre into cocoa processing, storage, financing and distribution.
The Dubai Multi Commodities Centre (DMCC) has recently established a Cacao Centre as part of efforts to position the emirate as a global hub for cocoa trading and processing, capitalising on rising global demand for higher-value cocoa and chocolate products.
Industry projections indicate that the global cocoa market will grow from an estimated US$16.6 billion in 2025 to US$26.2 billion by 2035.
The premium chocolate market is also expected to expand from US$31.9 billion in 2024 to US$40.6 billion by 2030, driven by increasing consumer demand for single-origin, artisanal and health-conscious chocolate products.
Although the UAE remains a relatively small participant in the global cocoa trade, its market has grown steadily in recent years.
Reports show that in 2023 the country imported US$17.3 million worth of raw cocoa beans and US$65.3 million worth of finished chocolate and cocoa products, while exporting US$16.4 million worth of raw cocoa beans.
The new agreements will strengthen Dubai’s access to high-quality West African cocoa while providing Ghana with a growing market for semi-finished cocoa products.
By Ebenezer K. Amponsah