Implications of Current Cocoa Price Hikes on African Trade and Macroeconomic Performance

Cocoa, the basic ingredient for chocolate and chocolate confections, is an important export commodity and foreign exchange earner for West Africa. The cash crop also promotes the livelihood of farmers in various farming communities, supports food security and assists economic growth in various parts of the region. The document effectively underscores the crucial role of cocoa in West Africa’s economic landscape, providing precise figures to highlight its impact on farmers and regional economic growth.