Youth Rush to Cocoa Farming as Prices Soar

•This year, we have received more than 500,000 requests for seedlings from CRIN.

By: Ben Ezeamalu (Reuters)

Raised in the cocoa-growing region of Ikom in southeastern Nigeria, Anyoghe Akwa didn’t envision many opportunities for himself there. Consequently, he chose to relocate, pursue studies in civil engineering, and establish a successful career in the construction sector.

It wasn’t until 2023 that he learned about the surge in cocoa prices and how farmers in his hometown of Ikom were thriving financially.

“We encountered individuals as young as 20 years old, who hadn’t gone to college, making substantial income through cocoa cultivation, whereas we, who aimed for a doctoral degree, were facing challenges,” stated Akwa, aged 47, who was pursuing his doctorate at the time.

“Thus, we began returning and established our own farms.”

Akwa is part of a group of newcomers to the industry, largely consisting of men referred to as “cocoa boys.” They’ve turned to farming or taken up related work to take advantage of the rise in cocoa prices.

The Nigerian association for cocoa farmers, representing small-scale growers, experienced an uptick in membership exceeding 10,000 during the period from 2023 to 2024.

In Ikom, situated in Cross River State near the Cameroonian border, the majority of agricultural lands belong to the community. According to traditional customs, individuals who trace their ancestry back to this area may obtain a piece of land by presenting a bottle of wine, an offering of food, and a small payment of approximately 5,000 naira ($3).

Akwa received some farmland from his father and acquired additional land via community allotment, allowing him to cultivate more cacao trees. These trees produce seeds that are turned into cocoa and chocolate products.

“Last year, I managed to harvest four bags. The first bag was sold for 800,000 naira ($500), while each of the remaining three fetched between 1 million to 1.2 million naira per bag,” he explained, adding that selling even a single bag provided him with an income equivalent to what he earned annually working as a civil engineer.

At the highest price point, Akwa was retailing cocoa at 20 times its worth from 2022, with each 64-kg bag of beans going for 60,000 naira, as reported by local farmers.

Nigeria’s Living Cost Crisis

A decrease in production from Ivory Coast and Ghana, the leading exporters of cocoa globally—accounting collectively for half of worldwide production—caused prices to rise from $2,200-$2,500 per metric ton in 2022 to almost $11,000 in December 2024. This information comes from the International Cocoa Organization, an intergovernmental entity.

The price increase occurred alongside Nigeria’s most severe economic downturn in more than thirty years, resulting in unprecedented levels of people falling into poverty.

The producers of cocoa were mostly shielded and even supported by a depreciation of the naira, which made their exports more attractive on the global market.

The growers aren’t the sole beneficiaries; the cocoa industry also includes intermediaries, often referred to as middlemen, who operate between the farmers and the licensed purchasing agents. These individuals store the beans and then resell them to exporters.

Ndubuisi Nwachukwu, aged 48, transitioned from banking to becoming an LBA in 2022, motivated by insights from his business mentor. This shift proved to be perfectly timed for him.

“The earnings I’ve accumulated over the past few years as an LBA, when combined with my total salary from my banking days, do not measure up,” he stated.

In Ikom and other regions known for cocoa production, the recently prosperous “cocoa boys” are disrupting local economies and causing an increase in housing prices.

“You might think of me as a cocoa boy since talking about cocoa nowadays makes you considered a ‘grown-up’,” explained Mark Bassey, 41, who quit his poorly paid position as a medical laboratory scientist to become a cultivator in his hometown.

When he was young, Bassey accompanied his mother to the cocoa farm, making those techniques well-known to him. Similar to Akwa, he sought change and pursued studies in science; however, he discovered it difficult to earn a decent income.

“I am aware that I will eventually return to my profession due to my passion for it, but at present, I wish to concentrate on farming,” stated Bassey, who mentions that his earnings have increased fourfold.

SMUGGLING AND HEDGING

According to the ICCO, Nigeria ranks as the globe’s fourth-biggest cocoa producer; however, with an output of 315,000 metric tons, it lagged significantly behind its West African counterparts Ivory Coast and Ghana, which produced 2,241,000 and 654,000 metric tons respectively.

The arrival of new farmers, along with the introduction of improved cocoa varieties that yield crops in just 18 months and governmental initiatives to enhance the industry through the distribution of complimentary saplings, ought to be increasing production. However, these developments are not evident in the officially reported figures.

CRIN speaks

“By combining all this information, we estimate that Nigeria’s cocoa production should have increased twofold,” stated Rasheed Adedeji, who serves as the director of research and strategy at the Cocoa Research Institute of Nigeria.

The reason includes the fact that approximately 200,000 tons of Nigeria’s cocoa beans are illegally exported each year, as mentioned by him.

CRIN reports receiving more than half a million requests for new cocoa saplings this year, sufficient to plant across 400,000 hectares of land, which is three times higher than the demand during the corresponding timeframe from the previous year.

Nevertheless, several of the newcomers are playing it safe. Akwa divides his time between managing his farm and overseeing work crews at different construction sites as a team leader and supervisor.

I can’t sleep due to constantly contacting them to check if they’ve completed certain tasks,” he explained. However, if the prices remain stable, he believes there could be significant potential in cocoa cultivation over time. “Based on my observations, I might transition to becoming a full-time cocoa farmer.

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