Monthly Archives: November 2022
Posted: November 14, 2022
Since 1973 the International Cocoa Organization (ICCO) has governed sustainable cocoa trade, but an international cocoa agreement, named the “Abidjan Declaration,” between Ghana and Ivory Coast (Cote D’Ivoire) presents dynamic changes in the fair trade cocoa industry by giving some control to top cocoa producers. Top cocoa-producing countries, Ghana and the Ivory Coast, are responsible for producing up to 60% of the world’s cocoa but receive less than 6% of the plant’s $100 billion (USD) global market share. The countries in the West African region ironed out a new international cocoa agreement focused on pricing, production, and marketing to take back control of fair trade cocoa.
What is the Abidjan Declaration? The “Abidjan Declaration” was signed on 26 March 2018 in Abidjan, Ivory Coast by the President of Cote d’Ivoire, Alassane Ouattara and the President of Ghana, Nana Akufo-Addo. The official statement was signed following a summit on the state of the cocoa industry in the