The nation’s cocoa regulatory body has decreased contract sales for the 2025/26 season from 1.7 million metric tons to 1.3 million tons.
This adjustment follows two consecutive years of poor harvests attributed to excessive rainfall, aging plantations, and various plant diseases.
The Cocoa Swollen Shoot Virus (CSSV), which has plagued cocoa farmers for many years, has resulted in yield reductions of up to 50% in certain regions.
Adverse weather conditions have further harmed crops, leaving storage facilities nearly depleted. The government anticipates that this year’s harvest may be three to four times smaller than the norm.
Cocoa accounts for half of the country’s export earnings and supports approximately 20% of the population’s employment.
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Nevertheless, the disappointing harvest has driven cocoa prices to unprecedented levels. In 2024, prices surged to $11,000 per metric ton, a significant increase from around $2,500 in previous years.
This price surge has impacted chocolate manufacturers globally, forcing many to increase their prices, with chocolate in the United States rising by 10% in 2023.
The scarcity of cocoa beans has created challenges for chocolate companies in maintaining profitability.
