Behind the sweet exterior of chocolatiering is a sector facing serious headaches. Cocoa prices reached record highs in the 2023/2024 season, as difficult weather conditions and the rapid spread of black pod disease caused huge yield reductions in Cote d’Ivoire and Ghana—the two biggest cocoa-supplying countries. Estimations published by the International Cocoa Organization expect the global sector to see a 14.2 percent reduction in yield this season because of it.
This 14.2 percent reduction translates to a shortage of around 462,000 tonnes and the lowest cocoa stocks in 22 years. It could mean a future characterized by even higher prices, topping the highs of