Purpose: The purpose of this paper is to introduce a new conceptual framework for smallholder value chains based on complex adaptive systems. Design/methodology/approach: The authors review the application of the framework to three case studies and explore their implications. The authors reflect on the value of a framework based on complex adaptive systems compared to alternative frameworks. Findings: The authors argue that the dynamics of smallholder value chains have received insufficient attention. Research limitations/implications: By focusing on these dynamics and on the capacity for adaptation among value chain actors the framework provides a new perspective on smallholder value chains. Originality/value: Complex adaptive systems provide a useful framework for analyzing value chain dynamics.