Cocoa prices have recently hit a record high, surpassing $10,000 per ton for the first time, primarily due to suboptimal crop yields in West Africa. This marks the third consecutive year of a supply deficit in the global market. The significant price increase is largely attributed to a combination of adverse weather conditions, disease outbreaks, and financial challenges in Ghana, which is the world's second-largest cocoa producer. Together, Ivory Coast and Ghana, which are the leading cocoa producers globally, have encountered severe issues such as heavy rainfall, black pod disease, and inadequate infrastructure. These challenges have had a profound impact on the global cocoa supply, as these two countries produce about two-thirds of the world's cocoa beans.