West Africa Cocoa Shortage Pushes Up Prices

16.04.2024 12:12 "Agro Perspectiva" (Kyiv) — Spiking cocoa prices have broken new records after disease outbreaks and climate extremes hit output in West Africa.

Ghana and Côte d’Ivoire — which together accounted for almost six-tenths of world cocoa production in 2022 — have seen production fall after heavy rains in the last quarter of 2023, followed by a heatwave and drought this year.

An outbreak of black pod disease — a fungus affecting cocoa pods and trees — was among factors that pushed futures prices for the commodity to well over USD 10,000 per tonne on 15 April.

As the month began, Côte d’Ivoire announced a 50% increase in the price paid to cocoa producers, with Ghana raising producer prices by 58% shortly afterwards.

In 2022, a WTO report found that Ghana’s economic growth in the cocoa sub-sector had been more volatile than for agriculture as a whole, often lagging behind other agricultural crops and livestock.

The International Cocoa Organisation has warned that structural issues may underpin ongoing supply tightness, with the sector facing challenges related to aging trees, diseases, remunerative farm gate prices, and climate challenges, as well as the impact of deforestation regulations.

Source: WTO

22.12.2024
	05:26	FAO transfers 185 generators, 6,474 grain hoses to Ukrainian farmers in 2024
	03:53	The EU agri-food trade surplus increased by 15% in September 2024, reaching EUR 6 billion
19.12.2024
	09:05	World coffee production for 2024/25 is forecast 6.9 million bags higher
18.12.2024
	23:11	China’s Expanding Coffee Consumption
17.12.2024
	22:37	Bangladesh Soybean Import Recovery Expected to Continue
14.12.2024
	21:03	World apple production for 2024/25 is forecast to fall nearly 350,000 tons to 84.0 million
13.12.2024
	09:11	U.S. Fresh Pear Exports Fall on Historically Low Harvest
10.12.2024
	21:03	Indonesia Grain Imports to Subside after 2023/24 Record
	08:14	Higher vegetable oil quotations drive up FAO Food Price Index, but lower cereal and sugar prices temper the rise
	07:45	Cereal trade revised downwards amid weaker demand
02.12.2024
	23:17	Prime Minister: Some 50 partner countries have joined the humanitarian demining coalition
	22:56	Norway pledges additional $4.5 mln to Ukraine's Grain from Ukraine initiative
01.12.2024
	03:30	EU agri-food trade slowed down in August 2024
26.11.2024
	00:06	Global sugar production, compared to last year, is estimated up 2.8 million tons to 186.6 million
24.11.2024
	04:43	During the Operation of Our Grain From Ukraine Program, We Have Managed to Save 20 Million People from Hunger – Zelenskyy
	04:15	Ukraine Is Ready to Share Technologies, Military Experiences and Processing Methods with African Countries – the President
22.11.2024
	10:15	South Africa Sugar Production and Exports Estimated Down
19.11.2024
	23:04	Global Olive Oil Production Forecast to Rebound in 2024/25
	22:47	Vitalii Koval discusses Ukraine's European integration with European colleagues
	16:06	EBRD, European Union and United States help Kyiv prepare for winter
18.11.2024
	09:21	Agriculture Development Strategy 2030 – a roadmap to the EU
	09:19	Ukrainian farmers have sown 96% of projected winter crop area
01.11.2024
	20:31	Ukraine has officially joined the International Fund for Agricultural Development
	20:29	Ukrainian farmers harvested 63.7 million tonnes of grains and oilseeds
25.10.2024
	22:50	Agriculture hit hard: October port strikes rack up 30-40 million dollars in losses
	21:04	Ministry of Agrarian Policy expects exports to rise in dollar terms
	10:57	Ukrainian corn seed flows to Europe in further farm trade shift
24.10.2024
	23:02	Tree Nut Import Markets Highly Concentrated
23.10.2024
	11:18	Prime Minister UK warns Russian threat to global stability is accelerating as Putin ramps up attacks on Black Sea
15.10.2024
	09:35	Brazil Continues to Dominate Growth in Global Chicken Meat Exports in 2025
11.10.2024
	23:33	China Cottonseed Imports Show Strong Demand in Recent Years
	20:30	India Removes Rice Export Ban, Spurring Additional Trade
30.09.2024
	17:27	List of agricultural machinery with cost compensation expanded to 11,300 items
29.09.2024
	20:21	1 in 11 people worldwide faced hunger in 2023, 1 in 5 in Africa If current trends continue, about 582 million people will be chronically undernourished in 2030, half of them in Africa
	17:13	EU agri-food surplus increased in the first half of 2024
27.09.2024
	09:02	BASF presents new corporate strategy: BASF is setting a new direction for portfolio steering, capital allocation and performance culture
26.09.2024
	10:25	BASF sets new direction with corporate strategy and maintains high level of shareholder distributions
21.09.2024
	18:30	Three new sites recognized as Globally Important Agricultural Heritage Systems (GIAHS)
17.09.2024
	09:52	Cargill and Ducks Unlimited Working Together to Restore Watersheds Across North America
	08:44	FAO calls for G20 cooperation as hunger targets continue to elude
	06:40	FAO sees open trade as a cornerstone of global food security
13.09.2024
	07:08	U.S. Soybean Meal Hits 10‐Year High for Export Sales
12.09.2024
	21:26	U.S. Corn Exports Buoyed by Large Supplies
11.09.2024
	04:30	Global cereal production 2024 forecast on par with 2023 output, cereal trade likely to contract
06.09.2024
	11:35	FAO Food Price Index down marginally in August: lower sugar, meat and cereal quotations offset higher dairy and vegetable oil prices
	10:34	Cargill acquires two US feed mills, strengthens production and distribution capabilities to grow with customers
05.09.2024
	09:23	PM: Plan to develop small generation facilities to reduce vulnerability to terrorism
30.08.2024
	05:03	Taras Vysotskyi discusses agricultural cooperation with Hungarian counterpart István Nagy
19.08.2024
	12:00	OTP BANK RECEIVED A $2.76 MILLION GRANT FROM USAID INVESTMENT FOR BUSINESS RESILIENCE ACTIVITY FOR CONCESSIONAL LENDING TO MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISES
16.08.2024
	17:10	Cargill and Goanna Ag Pilot Irrigation Efficiency Technology on Mississippi Delta Cotton Fields