• Growth driven by high prices and strong global demand
• Policy push to boost local processing expected to sustain gains

Ghana's export revenues from cocoa products surged 90% year-on-year to $1.8 billion in 2025, according to the Ghana Export Promotion Authority's (GEPA) annual report on non-traditional exports, published on April 19.

The category includes cocoa paste, butter, powder and cake, which provide key inputs for the chocolate, confectionery and beverage industries. GEPA attributed the increase to stronger demand and higher cocoa prices early in the year, which boosted the value of processed products.

"Cocoa futures reached multi-decade highs at the start of the year due to supply disruptions in West Africa. Although prices moderated later in 2025, they remained well above pre-2024 levels, supporting export revenues," the report said.

By product, cocoa paste generated the highest export value at $789.3 million, up 70.97% from 2024. Cocoa butter revenues more than doubled to $635.7 million, while cocoa powder generated $233.8 million. Cocoa cake totaled nearly $140 million, a 56% increase year-on-year.

Growth expected to continue

Growth in Ghana's cocoa product exports is expected to continue in the coming years. GEPA said the trend should be supported by government policies to allocate 50% of cocoa beans for local processing starting from the 2026/2027 crop season. Finance Minister Cassiel Ato Forson announced the plan on Feb. 12 at a press briefing in Accra, according to several local and international outlets.

Until now, Ghana has processed less than 40% of its annual cocoa harvest. Data compiled by the U.S. Department of Agriculture show that local processors handled an average of 220,000 metric tons of cocoa beans per year between 2023 and 2025, while average annual production stood at nearly 600,000 metric tons over the same period.

The country's installed cocoa processing capacity was estimated at 504,780 metric tons in 2025. This underutilization stems mainly from the difficulty processors face in accessing raw material, which constrains operations despite adequate infrastructure.

Against that backdrop, improving local processors' access to cocoa beans is critical for Ghana to fully utilize its industrial capacity, develop its cocoa sector and increase export revenues.