Connect with us

World

Cocoa beans rot and West African farmers seek other options after commodity crash

Published

on

Cocoa beans rot and West African farmers seek other options after commodity crash

KONA, Ghana (AP) — Manu Yaw Fofie was born into the cocoa farming business, but the land bequeathed to him has become more of a burden than a blessing. A sharp fall in cocoa prices over the past year has left beans rotting in some West African warehouses, while global chocolate makers scramble for supplies and consumers seek their fix.

With less money coming in, the 52-year-old Fofie in Ghana has taken the desperate step of giving part of his land to illegal sand miners, a lucrative practice driven by high construction demand since sand is used in concrete.

The cost is severe, however: the sand mining makes the land infertile.

Aware of the danger, Fofie said he had been left with little choice. He said annual cocoa bean yields has been declining over the years, from the past heyday of 300 bags to 50 bags in 2025, affected by factors including climate change.

Fofie is one of many cocoa farmers in Ghana and Ivory Coast — countries responsible for nearly 70% of the global cocoa bean supply — who are putting their land for other uses after the price of the once high-flying commodity crashed.

Advertisement

Ivory Coast, the world’s leading cocoa producer, had to purchase an excess supply of cocoa beans from farmers in January and this week slashed the price by more than half for 2026.

While a global commodity like cocoa beans is prone to occasional crisis, Ghanaian authorities were not prepared for one at this scale, said Edward Karaweh, former general secretary of the General Agricultural Workers Union.

“Preparation allows you to mitigate the crisis. It is not that you prevent the crisis altogether,” Karaweh said.

Cocoa futures soared, then crashed

Hundreds of thousands of farmers in West Africa rely on cocoa farming for a living. In Ivory Coast, cocoa bean exports make up 40% of the total export revenue. In neighboring Ghana, they make up nearly 15%.

Government regulators set a fixed price for the cocoa bean at the beginning of every planting season, and the majority of the beans are sold through government-licensed parties to protect farmers from price fluctuations on the international market.

Advertisement

However, after a surge in cocoa futures in 2024 on international markets, the futures — a contract to buy a commodity at an agreed-upon price on a future date — reached more than $12,000 per metric ton, the highest in decades. Then it crashed to around $4,000 as supply outstripped demand.

The downturn in price meant global traders would run at a loss if they purchased cocoa beans from the two African countries.

That led to a mounting stockpile of rotting cocoa beans in warehouses, while farmers who already sold their stocks to governments have not been paid for months.

With structural issues, farmers said they missed out on benefiting from the original surge. The whiplash in prices made some decide enough was enough.

Climate also plays a role

Walking through his cocoa trees in Ivory Coast, François N’Gbin pointed to blackened, dried-up pods caused by disease and a lack of rain.

Advertisement

He said he also has given up part of his land, for a fee, to illegal gold miners, then obtained a mining license out of fear of the authorities.

The mining area, partly filled with murky, yellowish water, covers at least 1,000 square meters (1,200 square yards) on his farm.

“Today, gold is more profitable than cocoa,” he said. “We get 1,500 CFA francs ($2.67) per gram of gold, and we’re about to negotiate an increase.”

Many other farmers are finding other uses for their farms, including leasing them to illegal gold miners, according to Moussa Koné, president of the Ivorian cocoa farmers’ union.

“Cocoa is not selling, but farmers still need money to feed their families,” he said.

Advertisement

Governments race to find solutions

Ghana has initiated efforts to loosen regulations on price controls, and in January slashed its fixed price for cocoa beans by 28% to 41,392 cedis ($3,881) per metric ton, in an attempt to make the beans more accessible to buyers.

This week, Ivory Coast also slashed the price paid to cocoa farmers by more than half to 1,200 CFA ($2.13) per kilogram ($0.97 per pound) for 2026.

Farmers say the price cut has left their profit margin very slim when they factor in the costs of production.

“Accepting the current price means my son will have to drop out of school,” said Mercy Amponsah, a 50-year-old cocoa farmer in Ghana. Shee was among the farmers who visited the capital, Accra, in January to protest the price cut.

Some cocoa producers elsewhere in the world — South America and Asia — have improved their supply but West Africa still makes up the bulk of production.

Advertisement

Farmers like Fofie say they must find other ways to survive, however.

“If I keep this cocoa farm for the next 10 years, I would die a poor man,” he said.

___

Adetayo reported from Lagos, Nigeria.

___

Advertisement

For more on Africa and development: https://apnews.com/hub/africa-pulse

The Associated Press receives financial support for global health and development coverage in Africa from the Gates Foundation. The AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Advertisement

World

Cape Verde’s dream run continues, becoming smallest country into World Cup knockout round

Published

on

Cape Verde’s dream run continues, becoming smallest country into World Cup knockout round

HOUSTON (AP) — Tiny Cape Verde defied odds to become the smallest country to earn a spot in the World Cup knockout round behind the stellar play of Vozinha, the 40-year-old goalkeeper who embodied the grit of his nation.

“We are small,” he said. “But we have big hearts and we are fighters.”

Cape Verde completed an improbable run through the group stage with a third straight World Cup draw, a 0-0 draw against Saudi Arabia on Friday night to advance in the tournament.

The small island nation off the western coast of Africa, which is making its debut on soccer’s grandest stage, already held 2010 champion Spain to a 0-0 draw and then came from behind to get a 2-2 result against Uruguay.

“The team was very eager to show this to the whole world,” Cape Verde coach Bubista said while draped in his country’s flag. “We are proud of having arrived at this stage. We have shown that we are a small country, but that we fight for the things that we want to achieve.”

Advertisement

Cape Verde’s three points put the team in second place behind Spain, which beat Uruguay on Friday night and won the group.

Cape Verde will play reigning World Cup champion Argentina in Miami on July 3.

Drawing all three group matches doesn’t guarantee advancement at major soccer tournaments. But several teams have done it in the past, including Wales in 1958, Ireland and the Netherlands in 1990, and Chile in 1998. New Zealand, however, also got three draws at the 2010 World Cup and was eliminated.

On the eve of the match, Bubista mused, “everyone is entitled to dream and nothing is impossible.”

The Blue Sharks proved him right, overcoming seemingly insurmountable odds as this country of just more than 500,000 reached the round of 32.

Advertisement

A woman, her face painted with a flag of the archipelago, held a sign that read: “Small Islands, Big Dreams.”

A dream that these underdogs have made reality as they continue their charmed run on the world stage.

They did it with another strong game from Vozinha, whose tournament success has helped him amass more than 16 million Instagram followers.

He had a save in first half stoppage time, grabbing a header from Mohamed Kanno to keep Saudi Arabia scoreless. Another save came in the 66th minute when he leaped to deflect a shot from Mohammed Abu Al-Shamat.

A third came in the 92nd minute when he stopped a shot by Abdullah Al-Hamdan.

Advertisement

“There is a lot of quality in our national team,” Vozinha said. “Maybe for many of you, you think the Cape Verdean player is not good enough. But we came here to show that we have a lot of quality and we are here to compete and our players can play everywhere in the big competition, in the big leagues.”

A group of shirtless men in the crowd each painted one letter of his name on their chests as they cheered Cape Verde.

But Vozinha had a much bigger fan among the crowd of 68,278 as his mother Ana Candida Evora watched from a luxury suite, waving a tiny Cape Verde flag. It was her second match of the tournament after missing Vozinha’s epic seven-save performance against Spain because of visa issues.

Cape Verde had a chance to score in the 50th minute, but Kevin Pina’s shot from distance was just above the crossbar. Another chance came in the 74th minute when Laros Duarte’s shot from the middle of the box was stopped by goalkeeper Mohammed Al-Owais.

A last chance to score came in the final seconds when Nuno da Costa sent a shot from the middle of the box wide left.

Advertisement

But it didn’t matter because a couple of minutes after the final whistle, Spain completed its victory over Uruguay and set off a joyous celebration among Cape Verde’s players and fans, many of whom cried as they rejoiced.

Having led his squad to new heights, Bubista was asked if he could have imagined such a run entering the tournament.

“I’ve always said that sooner or later Cape Verde would be on such a stage,” he said. “Of course it’s hard to have such a forecast, but I always knew.”

Saudi Arabia was eliminated after finishing with two points in the group stage.

“We were very poor in terms of creating things, controlling the game and creating actions,” coach Georgios Donis said. “And one cannot win a game this way. It would be very difficult.”

Advertisement

___

See more of AP’s World Cup coverage here

Advertisement
Continue Reading

World

Rubio announces framework deal between Israel and Lebanon as experts warn Iran will fight to sabotage it

Published

on

Rubio announces framework deal between Israel and Lebanon as experts warn Iran will fight to sabotage it

NEWYou can now listen to Fox News articles!

Secretary of State Marco Rubio and Israeli Prime Minister Benjamin Netanyahu welcomed the U.S.-brokered framework agreement between Jerusalem and Lebanon on Friday as a robust first step toward peace and a rejection of Iranian interference in the region.

The breakthrough could lead to a path of diplomatic normalization between the two countries, Lebanon and Israel, that are in a formal state of war. The framework agreement may impede the Iran-backed terrorist movement Hezbollah that has gained control over parts of the Lebanese state, according to experts.

Hezbollah and Israel have fought two wars since the terrorist organization joined Hamas’ invasion of Israel in Oct. 7, 2023 and following U.S.-Israeli attacks on Iran in February.

US ENVOY NEARS LEBANON-ISRAEL CEASEFIRE THAT WOULD DISARM HEZBOLLAH TERROR GROUP

Advertisement

Hezbollah launches long-range missiles from Lebanon into northern Israel within 48 hours of strikes on Iran, escalating the widening conflict amid Operation Epic Fury. (Hadi Mizban/AP)

Rubio said, “Today is a good day in that we are happy to announce a framework agreement between the sovereign government of Lebanon and, of course, the government of Israel, with a mediation and support of the United States of America, that begins to put in place a framework for lasting peace and security.”

He added, “And that’s what these two nations deserve.”

According to the Press Service of Israel (TPS-IL), Netanyahu termed the deal “a severe blow to Iran.” He added that the Islamic Republic seeks to force an Israeli withdrawal from southern Lebanon, and “essentially Israel, Lebanon and the United States are telling them: This is none of your business. You have no role in southern Lebanon — neither you, nor Hezbollah nor any other terrorist organization.”

U.S. Ambassador to Israel, Mike Huckabee, wrote on X:” Was there all week but had to fly back to Israel Thursday night. Historic opportunity but key is disarming Hezbollah, evil terrorists who have killed Americans. Israel, Lebanon sign framework peace agreement following US-backed negotiations.”

Advertisement

Secretary of State Marco Rubio and Israel’s Ambassador to the U.S. Yechiel Leiter applaud after signing a framework agreement between Israel and Lebanon with State Department Counselor Daniel Holler, and Lebanon’s Ambassador to the U.S. Nada Hamadeh, at the State Department in Washington, D.C., U.S., June 26, 2026.  (Ken Cedeno/Reuters)

Lebanon’s President Joseph Aoun, in an Arabic-language X Post, thanked the U.S. administration, led by President Donald Trump, “for its efforts in hosting and facilitating the negotiations and for supporting Lebanon’s position.”

Rubio’s optimistic announcement encouraged some veteran Lebanon experts about a historic opportunity for peace, while others warned about the necessity to proceed with caution.

Guila Fakhoury, whose father, Amer, was kidnapped by Hezbollah in 2019, told Fox News Digital that “Today marks a historic achievement. For the first time since 1983, Lebanon and Israel have reached an agreement through direct negotiations. It also represents a fundamental shift in regional dynamics, demonstrating that Lebanon’s future need not be contingent upon broader regional negotiations or arrangements negotiated through proxy influence. In that sense, this agreement supersedes previous efforts to tie Lebanon’s stability and sovereignty to external agendas.”

Fakhoury, added, “If these commitments are fulfilled, this agreement could become the foundation for long-term cooperation, security, economic opportunity and shared stability that benefits both the Lebanese and Israeli people.”

Advertisement

HEZBOLLAH DISARMAMENT DEADLOCK RISKS CIVIL WAR, ANALYSTS SAY, AS US PREPARES FOR ISRAEL–LEBANON TALKS

Hezbollah al-Mahdi scouts parade with large portraits of Iran’s late leader Ayatollah Khomeini and Supreme Leader Ayatollah Ali Khamenei during an event for Jerusalem Day in Nabatiyeh, Lebanon, on Aug. 1, 2013. (Hussein Malla/AP Photo)

She continued, “However, whether this agreement brings lasting peace and stability will depend entirely on its implementation. The Lebanese state and its legitimate institutions must be the ones to create stability, not external actors or armed organizations operating outside government authority.”

Walid Phares, a leading U.S. expert on Lebanon and the Mideast, told Fox News Digital, “This agreement is just a ceasefire not a conduit to a larger peace deal. Hezbollah take orders from Iran. It’s clear Tehran will complain about such a deal and pressure the negotiators to get some statement from Washington asserting the Islamic Republic’s say over Lebanon. Hezbollah will attack the deal but will pray Israel won’t strike. The Trump administration will have to calibrate between the Rubio-sponsored agreement on Lebanon and the fragility of the situation in the Gulf.”

Prime Minister Benjamin Netanyahu during his conversation with U.S. President Donald Trump. (Avi Ohayon / GPO)

Advertisement

He added, “The regime is telling Hezbollah ‘keep the narrative up and radical but let us get the money first.’ Israel is giving its public something and mindful of Trump’s concerns about the deal with Iran. The Lebanese government is hoping their army does not have to engage. The only unknown is the ability of the Lebanese opposition to rise and resist Hezbollah. We are still inside the Lebanese status quo.”

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Sen. Tom Cotton, R-Ark., posted on X following the news that, “Hezbollah savages have American blood on their hands. I applaud President Trump and @SecRubio for forging this important agreement that will restrain Iran’s terrorist proxy. Let me be clear: Tehran has no future in Lebanon.”

Hanin Ghaddar, a senior fellow at The Washington Institute for Near East Policy, wrote on X: “Absolutely a breakthrough,” This is the first agreement between Israel and Lebanon since 1983. A clear and loud ‘NO’ to Iran as it challenges its efforts to control Lebanon ‘s file.”

She added, “But as the 1983 agreement was toppled by the bad guys then (Assad regime), Iran will try everything to make sure this one fails as well. Lebanon and Israel have a responsibility in making sure this agreement is protected, and its implementation is successful. We will probably not have another chance.”

Advertisement

Continue Reading

World

Trump threatens 100% tariffs over EU digital tax

Published

on

Trump threatens 100% tariffs over EU digital tax

President Donald Trump on Friday threatened a 100% tariff on imports from any country that imposes a tax on digital services provided by United States companies.

ADVERTISEMENT


ADVERTISEMENT

In a social media post, Trump took aim at European countries, he said, that are discussing the “imminent” implementation of taxes on American companies.

The US president has repeatedly sought to use tariffs to deter such taxes, but many countries are seeking revenue as their economies increasingly operate in digital realms dominated by American companies.

“Please let this statement serve to represent that any Country that imposes such a Tax will immediately be met with a 100% tariff on any and all Goods sent to the United States of America,” Trump wrote.

Advertisement

He added that the new tax would supersede any previously negotiated trade deals. Trump said the penalty would apply to any country that moves forward with such a tax, but he singled out European nations in his post.

Trump has consistently opposed international attempts to tax or regulate American tech giants. Last year, he threatened fresh tariffs on any nation attempting to do so, writing in a post last August that digital taxes and regulations “are all designed to harm, or discriminate against, American Technology.”

The warning arrives just ahead of Trump’s 4 July deadline for the European Union and the US to begin implementing a trade agreement that caps most tariffs on EU exports at 15%.

The EU finalised that trade deal with the United States in May. It followed months of internal EU debate after European Commission chief Ursula von der Leyen initially reached a tentative agreement last year during a visit to Trump’s golf course in Scotland.

The issue of digital tax remained unresolved

Digital taxes were excluded from that pact and remain a primary source of friction between the US and the European bloc.

Advertisement

While the US government has previously launched Section 301 investigations into digital services taxes, it remains unclear how Trump intends to enforce his latest threat, or whether the tariffs would be applied globally or targeted at specific countries first.

Britain, having left the EU, has levied its own 2% digital services tax since 2020 on revenue generated by search engines, social media platforms and online marketplaces that “derive value” from UK users.

In a policy document released at the time, the British government argued that existing corporate tax rules for digital firms had “led to a misalignment between the place where profits are taxed and the place where value is created.”

The UK tax features specific thresholds, ensuring it is primarily paid by major multinational corporations. The policy was implemented to “ensure the large multinational businesses in-scope make a fair contribution to supporting vital public services,” the document noted.

Advertisement
Continue Reading
Advertisement

Trending