Climate change is having a significant impact on many economic sectors around the world. These disruptions are impacting the production of key raw materials, such as cocoa, leading to significant price increases. This year, the cocoa market has seen an unprecedented price surge, surpassing the threshold of $12,000 per tonne. This worrying situation raises many questions about the future of this industry and its economic and environmental implications.
The increase in cocoa prices is a complex phenomenon, resulting from a variety of interconnected factors. Climate disruptions, such as droughts, storms and temperature variations, have a direct impact on cocoa production in major producing countries, such as Côte d’Ivoire and Ghana. These extreme weather events compromise harvests and reduce yields, leading to a more limited supply on the global market.
At the same time, global demand for chocolate and cocoa-derived products continues to grow, fuelled by the emergence of new markets and increased consumption in many countries. This high demand puts additional pressure on prices, amplifying the effects of climate disruptions on cocoa supply.
The consequences of this surge in cocoa prices are multiple. First, cocoa farmers in developing countries may face economic difficulties, as they rely heavily on this activity for their livelihoods. Measures must be taken to support these communities and help them face the challenges related to climate change.
Furthermore, companies in the chocolate industry must adapt to this new economic reality by rethinking their sourcing and production strategies. Promoting sustainable and responsible practices is essential to ensure the sustainability of the cocoa sector, while limiting the environmental impact of this activity.
In conclusion, this year’s surge in cocoa prices highlights the challenges facing the chocolate industry due to climate change. There is an urgent need for concerted action to preserve cocoa production and ensure a sustainable future for this sector, which is essential for many communities around the world.