Global cocoa prices have come down after two years of rising costs.
At the end of 2024, the price of cocoa almost hit US$12 000 per tonne.
Now, it has dropped to around US$5 000 per tonne.
That is a drop of more than 50% in just one year.
Experts say this is happening because harvests in Ivory Coast look much better than expected, BusinessTech has reported.
Economist Simon Lacoume says the price change is bringing things back to “more rational levels”.
This is great news for South African shoppers.
Last year, high costs forced shops to raise prices on chocolate bars and boxes.
Now, brands might have some breathing room to keep prices steady for Christmas, although experts warn the market is still fragile.
Most of the world’s cocoa comes from West Africa. If weather or disease hits that region, prices could shoot up again.
Prices are still double what they used to be on average between 2012 and 2022, but for now, the supply chain is working better.
While countries like Ecuador want to grow more beans, West Africa is still the king of cocoa.
The market is unpredictable, but for now, the news is sweet. – Scrolla
