Crisis in the global cocoa market: Impacts and alternatives for the chocolate industry

The world's main cocoa producers, Ghana and Ivory Coast, responsible for 80% of the cocoa consumed globally, face serious difficulties in adapting to climate change and meeting growing global demand. The lack of investment in genetic improvement and agricultural techniques, combined with the prolonged stability of cocoa prices on the London and New York stock exchanges, contributes to a crisis scenario in the sector. Climate Change and Lack of Investment Climate change has caused significant impacts on cocoa production in Ghana and Côte d'Ivoire. Variations in climate, including periods of drought and irregular rainfall, directly affect crop productivity. However, adaptation to these changes is hampered by a lack of investment in modern agricultural technologies and techniques that could mitigate these effects. Furthermore, the absence of robust genetic improvement programs prevents the development of cocoa varieties that are more resistant to new climate conditions. The ...