Cocoa Bean Harvest Deficit Raised to 462,000 Tons Worldwide

It is expected that global cocoa bean supplies will decrease by 14.2% to 4.3 million tons. This reduction is primarily due to declining harvests in West Africa, which accounts for the majority of the world's cocoa bean production. Experts estimate that Côte d'Ivoire, the leading exporter of cocoa, will produce 1.7 million tons, while Ghana is expected to produce 450,000 tons.

The negative factors contributing to this deficit include unfavorable weather conditions, aging trees, theft, and diseases.

At the same time, the average price per ton of cocoa beans on the global market has increased from $4,000 to $10,000 compared to 2023.