Cocoa Prices fall significantly amid ongoing festive season.
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As cocoa prices retreat sharply from last year’s record highs, questions are emerging about whether this correction signals genuine relief or just a temporary pause in a structurally fragile market.
We unpack the dramatic shift in the global cocoa market, where prices have fallen by around 45% since the start of the year, dropping from nearly $12,000 a ton to about $5,000. While this comes just in time for the festive season and could ease pressure on chocolate manufacturers and retailers, prices are still almost double their long-term average and the risks beneath the surface remain significant.
We’re joined by Aroni Chaudhuri, Chief Africa Economist at Coface, to explain what’s driving the cocoa price correction, from improved harvest forecasts in Côte d’Ivoire to the unwinding of speculative pressures. We also explore why talk of “normalisation” may be premature, given ageing plantations, underinvestment, climate risks, and the heavy concentration of production in West Africa, where Côte d’Ivoire and Ghana alone supply nearly 60% of the world’s cocoa.
We unpack the dramatic shift in the global cocoa market, where prices have fallen by around 45% since the start of the year, dropping from nearly $12,000 a ton to about $5,000. While this comes just in time for the festive season and could ease pressure on chocolate manufacturers and retailers, prices are still almost double their long-term average and the risks beneath the surface remain significant.
We’re joined by Aroni Chaudhuri, Chief Africa Economist at Coface, to explain what’s driving the cocoa price correction, from improved harvest forecasts in Côte d’Ivoire to the unwinding of speculative pressures. We also explore why talk of “normalisation” may be premature, given ageing plantations, underinvestment, climate risks, and the heavy concentration of production in West Africa, where Côte d’Ivoire and Ghana alone supply nearly 60% of the world’s cocoa.
