African cocoa plants run out of beans as global chocolate crisis deepens

March 14, 2024

Cocoa prices have more than doubled over the last year, scaling numerous all-time highs. Chocolate-makers cannot produce chocolate using raw cocoa and rely on processors to turn beans into butter and liquor that can be made into chocolate. The International Cocoa Organisation (ICCO) expects global cocoa production will fall by 10.9% to 4.45 million metric tons this season. The ICCO expects global cocoa stocks to fall to their lowest in 45 years by the season end. Wateridge of Tropical Research said the cocoa market could post another deficit next season based on the severity of bean disease in West Africa.

The source of this news is from Tuoi Tre News

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