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West Africa: Cocoa Beans Are in Short Supply - What This Means for Farmers, Businesses and Chocolate Lovers
The Conversation Africa, 19 March 2024
A shortage of cocoa beans has led to a near shutdown of processing plants in Côte d'Ivoire and Ghana, the two countries responsible for 60% of global production. With… Read more »
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Nigeria: Cocoa Prices Surge to Record High On Naira Depreciation
Leadership, 15 February 2024
Nigerian cocoa farmers and exporters are reaping big as global cocoa prices hit record high, thanks to the steep naira devaluation that has resulted in a sharp increase in the… Read more »
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West Africa: Cocoa Prices Surge - West Africa Should Negotiate Better Deal for Farmers
The Conversation Africa, 4 October 2023
The global price of cocoa is spiking, a direct response to dwindling cocoa output in West Africa. In September, cocoa futures reached a 44-year price peak due to mounting concerns… Read more »
No More Chocolate? Cocoa Beans Shortage Threatens Supply Chain
A cocoa bean shortage has prompted a near shutdown of processing plants in Côte d'Ivoire and Ghana, posing concerns for global chocolate prices and farmer livelihoods, reports Michael E Odijie for The Conversation Africa.
Environmental factors like El Niño, economic cycles, and human activities such as illegal mining contribute to declining cocoa production in West Africa. Despite global chocolate demand, actions to support farmers vary, with Ghana securing a World Bank loan for rehabilitation, while Côte d'Ivoire lags.
Economic challenges exacerbate farmer struggles, and reduced processing capacity could lead to worldwide chocolate price hikes.
InFocus
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Chocolate production for the domestic consumer market is discouraged by an extremely high tax rate of nearly 60% on domestic sales of chocolate and semi-finished cocoa products. ... Read more »
