Cocoa Bean Shortage 2024. The ivory coast cocoa crisis shows the consequences of dwindling supply meeting growing demand. What’s driving this unprecedented increase?

The latest price hike has been driven by news from west africa that major cocoa plants in cote d’ivoire and ghana have halted or reduced processing because they cannot afford to buy beans, trading sources told media outlets. Barry callebaut, the world’s largest cocoa and chocolate supplier, has informed its clients it is increasing prices for ingredients from 1 may and reserving the right to restrict order as the scramble to source beans becomes increasingly fraught due to.