The second CocoaAction Annual Report, "Learning as We Grow: Putting CocoaAction into Practice", focuses on learnings that the World Cocoa Foundation and CocoaAction companies observed in 2016.

Smallholder cocoa farmers in Côte d’Ivoire and Ghana are not simply viewed as beneficiaries of the CocoaAction strategy. Rather, they are strategic partners to CocoaAction companies and WCF, providing perspectives and learnings that enable iterations in strategy to improve impact. In 2016, by implementing CocoaAction interventions, companies worked closely with 147,000 smallholder cocoa farmers and developed a better understanding of the challenges and obstacles they face. In the last quarter of 2016, the world trade price of cocoa dropped significantly—from USD $2,711.35 per ton to $2,287.80 per ton (ICCO)—in a short span of time. While the sector is still recovering, this price drop challenged CocoaAction companies and WCF to accelerate their work on sustainable livelihoods and risk-reduction methods for cocoa farmers.