Cocoa prices surge and importers turn focus to Vietnam's growing regions

A scarcity in supply has drawn the attention of corporations and businesses involved in processing and importing to focus on cocoa-growing regions in Việt Nam. In recent months, the price of fresh cocoa has surged, reaching VNĐ12,000 per kg (US$0.48) for fresh pods, three to four times higher than in previous years. The price hike is attributed to a significant supply shortfall in West Africa and South America in 2024, largely due to climate change. Meanwhile, global demand for cocoa-based products continues to grow. Farmers have benefited significantly from these market changes. Chu Văn Coón, a farmer with 1.6 hectares of cocoa in Phú Hòa commune, Định Quán district, Đồng Nai Province, said: "We are very excited that cocoa prices have multiplied. Income from cocoa is now far higher than many fruit crops that once topped the profitability charts." However, it poses challenges for cocoa processing businesses. Đặng Tường Khanh, General Director of Trọng Đức Cocoa Company, said that ...