Overview

• Changing climate patterns and severe weather conditions in West Africa are drastically affecting global cocoa supplies, leading to a sharp increase in cocoa prices.
• The rising cost of cocoa has resulted in higher prices for chocolate products, especially during the high-demand Easter season, impacting consumers worldwide.
• Major chocolate companies have reported significant profit increases despite the challenges in cocoa production, with some considering further price hikes to meet revenue growth forecasts.
• Farmers in cocoa-producing countries are struggling with lower yields and higher production costs, and climate change is blamed for the poor crop conditions.
• Efforts are being made to educate farmers on climate-resilient farming methods, and some governments promise to support farmers in securing better deals.