Ghana Secures Strategic Cocoa Deals with UAE and Saudi Arabia as Global Cocoa Market Heads Toward $26.2 Billion
Ghana has taken another bold step in strengthening its position in the global cocoa industry after securing strategic offtake commitments from buyers in the United Arab Emirates (UAE) and Saudi Arabia for a range of semi-finished cocoa products. The landmark agreements open a significant new export corridor into the Gulf region, reinforcing Ghana’s ambition to move beyond exporting raw cocoa beans and become a leading supplier of value-added cocoa products.
The agreements, signed on July 7, 2026, cover cocoa liquor, cocoa butter, cocoa cake and cocoa powder, according to Cocoa Marketing Company Ghana Limited (CMC). Although the company has not disclosed the financial value or volume of the contracts, the development is widely viewed as a major milestone in Ghana’s cocoa industrialisation agenda.
The breakthrough follows extensive engagements led by CMC’s Managing Director, Dr. Wisdom Dogbey, whose efforts are aimed at diversifying Ghana’s cocoa export destinations while strengthening the country’s competitiveness within the global cocoa value chain.
A Timely Boost for Ghana’s Cocoa Industry
The agreements arrive at a critical period for Ghana’s cocoa sector, which has faced mounting challenges over the past few years. Alongside neighbouring Côte d’Ivoire, Ghana produces nearly half of the world’s cocoa supply, yet both countries continue to grapple with fluctuating international prices, declining demand from some chocolate manufacturers, crop diseases, ageing cocoa farms, illegal mining activities and delayed payments to farmers.
In 2026, these pressures became even more evident after slower international purchases left approximately 50,000 tonnes of Ghanaian cocoa beans unsold. Earlier in the year, authorities were also compelled to reduce the fixed producer price paid to cocoa farmers, highlighting the financial strain within the sector.
Despite these challenges, cocoa remains one of Ghana’s most valuable economic pillars, contributing about 15 percent of the country’s export earnings. Cocoa paste alone generated approximately $789.3 million in export revenue during 2025, making it Ghana’s single largest export product.
The newly secured Gulf market therefore provides Ghana with an important alternative destination for processed cocoa products while supporting the government’s long-term objective of processing at least 50 percent of the country’s cocoa production locally.
Dubai Positions Itself as a Global Cocoa Hub
The agreement also complements Dubai’s growing ambition to become a major international centre for cocoa processing, storage, financing and distribution.
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Through the Dubai Multi Commodities Centre (DMCC), the UAE has recently launched a dedicated Cacao Centre designed to strengthen its role in the rapidly expanding global cocoa trade. Industry projections indicate that the global cocoa market will grow significantly from approximately $16.6 billion in 2025 to nearly $26.2 billion by 2035.
At the same time, worldwide demand for premium chocolate products, including single-origin chocolate, artisanal brands and healthier cocoa-based products, is expected to continue rising, with the premium chocolate market projected to expand from $31.9 billion in 2024 to approximately $40.6 billion by 2030.
Although Dubai remains a relatively small player in cocoa trading, its market continues to gain momentum. In 2023, the UAE imported about $17.3 million worth of raw cocoa beans alongside $65.3 million worth of finished chocolate and cocoa products. The country also exported approximately $16.4 million worth of raw cocoa beans, ranking it among the world’s notable cocoa exporters.
For Dubai, Ghana’s semi-finished cocoa products provide direct access to one of the world’s most reliable cocoa-producing regions while supporting its ambition of connecting African producers with processors, manufacturers and food companies across the Middle East and Asia.
Saudi Arabia Presents a Fast-Growing Market
Saudi Arabia also represents a promising destination for Ghana’s processed cocoa exports due to its rapidly expanding food manufacturing and confectionery industries.
Unlike countries that import large quantities of raw cocoa beans, Saudi Arabia primarily purchases processed cocoa ingredients used in confectionery, beverages, bakery products, packaged foods and industrial chocolate manufacturing.
In 2024, the Kingdom imported only about $200,400 worth of raw cocoa beans, equivalent to just under 25,000 kilograms. However, imports of cocoa and cocoa preparations reached an impressive $701.4 million during the same period, demonstrating the country’s strong demand for processed cocoa inputs.
Industry forecasts suggest Saudi Arabia’s cocoa products and industrial chocolate market will nearly double from $530.08 million in 2025 to approximately $995.03 million by 2035. Meanwhile, the country’s broader chocolate market is projected to grow from $1.32 billion in 2025 to nearly $1.98 billion by 2032.
These trends create significant opportunities for Ghanaian exports of cocoa liquor, cocoa butter, cocoa powder and cocoa cake to supply manufacturers serving one of the Middle East’s fastest-growing consumer markets.
Expanding Ghana’s Global Footprint
Beyond the immediate commercial benefits, the agreements signal Ghana’s broader strategy to diversify its cocoa export markets beyond its traditional buyers in Europe and North America by building stronger commercial relationships with high-growth economies in the Gulf region.
The initiative aligns with Ghana’s long-term vision of transforming its cocoa sector from a supplier of raw commodities into a globally competitive processor and exporter of high-value cocoa products. Increasing local processing is expected to improve factory utilisation, create more employment opportunities, strengthen industrial capacity and enable Ghana to retain a larger share of the wealth generated throughout the global chocolate value chain.
For Gulf markets, the agreements establish a more direct and reliable supply relationship with one of the world’s leading cocoa-producing nations while supporting growing demand for premium cocoa ingredients across the Middle East and Asia.
As global demand for processed cocoa continues to accelerate, Ghana’s latest partnerships with the UAE and Saudi Arabia position the country to capture greater value from its cocoa resources, strengthen export resilience and reinforce its status as one of Africa’s leading players in the evolving global cocoa industry.
