Last Wednesday, the price of cocoa was down 2% to $9,430. In one month, the price of fava beans jumped by 45% and over one year it soared by nearly 238%

The surge in chocolate prices is primarily the result of the imbalance between production and global demand, the cocoa market is expected to end up in deficit in 2024 for the third year in a row. According to the World Coffee and Cocoa Organization (ICCO), the cocoa market should stand at 374,000 tonnes in the 2023-2024 season, compared to 74,000 tonnes the previous season, i.e. the worst deficit in

The high cost of beans is also forcing cocoa factories in Côte d'Ivoire and Ghana to reduce their milling activities (to transform the bean into powder and butter).