This week, the media reported that significant cocoa processing facilities in Ghana and Cote d’Ivoire have halted or decreased operations since they cannot afford to buy cocoa beans. Consequently, there is an anticipation of a substantial increase in global chocolate prices.
It is forecasted that in 2023/2024 season there’ll be a 375,000 tonnes lack of growing cocoa compared to 74,000 tonnes deficit in the previous season which represents more than a fivefold increase.
