https://en.sputniknews.africa/20250128/africas-crypto-commodities-cocoa--rubber-as-new-bitcoins-1070384481.html
Africa's Crypto Commodities: Cocoa & Rubber as New Bitcoins
Africa's Crypto Commodities: Cocoa & Rubber as New Bitcoins
Sputnik Africa
Cocoa and rubber are emerging as vital commodities in the global market, with their value soaring as demand grows. As Africa remains a leading producer of... 28.01.2025, Sputnik Africa
2025-01-28T14:59+0100
2025-01-28T14:59+0100
2025-01-28T14:59+0100
global south pole
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agriculture
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cocoa
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Africa's Crypto Commodities: Cocoa & Rubber as New Bitcoins
Sputnik Africa
Cocoa and rubber are emerging as vital commodities in the global market, with their value soaring as demand grows. As Africa remains a leading producer of both, these resources are becoming central to economic conversations, positioning the continent as a critical player in shaping the future of sustainable trade and global supply chains.
As global commodity markets experience unprecedented shifts, cocoa and rubber have emerged as Africa's “new bitcoins,” capturing attention due to their surging prices and transformative potential. Industry leaders Adeola Adegoke, President of the Cocoa Farmer's Alliance Association of Africa, and Prince Peter Idowu Igbinosun, National President of the Rubber Producers, Processors, and Marketers Association of Nigeria, shared insights into the evolving dynamics of these commodities.Adegoke explains that the cocoa industry is undergoing a paradigm shift not seen in decades, driven primarily by climate-related production challenges in Ghana and Côte d'Ivoire, which collectively produce over 50% of the world's cocoa. He notes that while these disruptions have strained global supply chains, they have brought new economic prospects to African cocoa farmers, who have long suffered from low pricing.Adegoke also voiced concerns about the European Union's environmental and sustainability regulations, particularly the Sustainable Cocoa Initiative, which he believes could unfairly disadvantage African producers. While acknowledging the importance of combating climate change, he stressed that African nations lack the infrastructure and resources to comply without external support.Turning to the rubber industry, Prince Peter Idowu Igbinosun emphasizes that global demand for rubber is soaring, driven by developments in the automotive and industrial sectors. He highlights three key factors behind the price surge: exchange rate fluctuations, rising petroleum prices, and increased global demand, particularly from China.To listen to the whole discussion, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Apple Podcasts, Spotify, Deezer, Castbox, Pocket Casts, Afripods, Podcast Addict, and Overcast.► Check out all the episodes of Global South Pole.
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podcasts, agriculture, trade, commodities exchange, cocoa, farmers, nigeria, ghana, cote d'ivoire (ivory coast), asia, climate change, economy, africa, bitcoin, аудио
Africa's Crypto Commodities: Cocoa & Rubber as New Bitcoins
Cocoa and rubber are emerging as vital commodities in the global market, with their value soaring as demand grows. As Africa remains a leading producer of both, these resources are becoming central to economic conversations, positioning the continent as a critical player in shaping the future of sustainable trade and global supply chains.
As global commodity markets experience unprecedented shifts, cocoa and rubber have emerged as Africa's “new bitcoins,” capturing attention due to their surging prices and transformative potential. Industry leaders Adeola Adegoke, President of the Cocoa Farmer's Alliance Association of Africa, and Prince Peter Idowu Igbinosun, National President of the Rubber Producers, Processors, and Marketers Association of Nigeria, shared insights into the evolving dynamics of these commodities.
Adegoke explains that the cocoa industry is undergoing a paradigm shift not seen in decades, driven primarily by climate-related production challenges in Ghana and Côte d'Ivoire, which collectively produce over 50% of the world's cocoa.
“The sudden changes we’re witnessing in the cocoa industry are unprecedented. In the last 40 years, we haven’t seen anything like this. The dry spells in Ghana and Ivory Coast caused a sharp drop in cocoa pod production per tree, and this affected every cocoa-producing country. But it hit Ghana and Ivory Coast the hardest, creating a global supply deficit,” he says.
He notes that while these disruptions have strained global supply chains, they have brought new economic prospects to African cocoa farmers, who have long suffered from low pricing.
Adegoke also voiced concerns about the European Union's environmental and sustainability regulations, particularly the Sustainable Cocoa Initiative, which he believes could unfairly disadvantage African producers. While acknowledging the importance of combating climate change, he stressed that African nations lack the infrastructure and resources to comply without external support.
“The issue of climate change is not in question—global warming affects us all. But developed countries, which are the major contributors to greenhouse emissions, cannot shy away from their responsibility. Asking impoverished farmers to develop traceability mechanisms and mapping systems without adequate support is unsustainable. Advocacy and collaboration should have come first, not threats of enforcement,” he argues.
Turning to the rubber industry, Prince Peter Idowu Igbinosun emphasizes that global demand for rubber is soaring, driven by developments in the automotive and industrial sectors. He highlights three key factors behind the price surge: exchange rate fluctuations, rising petroleum prices, and increased global demand, particularly from China.
“China has reopened its market, and their industries are producing more motorcycle tires, condoms, and balloons. Additionally, new markets are opening in Africa, like South Africa and Nigeria, where four tire companies are now operational. The demand is far greater than the supply, and that imbalance is what’s keeping prices high. I foresee this trend continuing for some time,” he explains.
To listen to the whole discussion, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.
In addition to the website, you can also catch our episodes on
Telegram.► Check out all the episodes of Global South Pole. 
