Ivory Coast and Ghana formed cocoa averagers

[Karl_3000]

The foreigners took advantage of the different prices of cocoa in Africa, buy more from the countries that sell cheaper, making the other countries to sell their cocoa cheap also.

There was a time in the past that from 100% of chocolate that has been turned into a finished product for consumption, farmers were gaining 50%, it gradually reduced and today farmers gain is less than 7%.

West Africa produce more than 70% of the world cocoa.

Ivory Coast produced about 40 to 45% of global cocoa
Ghana produced about 15–20%
Nigeria produced about 5%
Cameroon produced about 5%.

Ivory Coast and Ghana formed the cocoa avengers to control the price of cocoa so that they can have one price for it in a way farmers will profit from it.

They are planing to let Nigeria, Cameroon and other countries to join them so that they can have a set price instead of bringing the price low while only the foreign companies are the one making the much profit.

But I hope it is not too late.
What have they been doing all these decades when the price was reducing.
The white people always are wiser.

[Hypnotizer]

This is actually a good initiative and it will help African Farmers gain the maximum yield possible from their raw materials most especially Cocoa which West Africa control most of it supply and I suppose ECOWAS to be the ones that bring this kind of things for the progress of this region because economic coalition is one of the primary purpose of ECOWAS.

This is a nice time for African states to wake up and fight for self sufficiency and control over their raw materials is one of the first steps towards achieving that. If West African states can come together and form strong economic coalitions like this, it will be of great benefit to them.

[TrialBitcoin]

This is actually a good initiative and it will help African Farmers gain the maximum yield possible from their raw materials most especially Cocoa which West Africa control most of it supply and I suppose ECOWAS to be the ones that bring this kind of things for the progress of this region because economic coalition is one of the primary purpose of ECOWAS.

This is a nice time for African states to wake up and fight for self sufficiency and control over their raw materials is one of the first steps towards achieving that. If West African states can come together and form strong economic coalitions like this, it will be of great benefit to them.

Absolutely. Africa cannot continue exporting raw materials cheaply and importing finished products at several times the cost. Adding value locally, especially to commodities like cocoa, is how farmers can earn more while creating jobs and industries within the region.

ECOWAS should be doing more to promote regional economic cooperation, processing, trade and self-sufficiency. If West African countries can genuinely work together instead of competing against one another, we can turn our natural resources into real economic power. The real question is: when will African countries move from exporting potential to building wealth from it?