Soaring cocoa prices: Diverse impacts and implications for key West African producers
BY MARTIN PAUL JR. TABE-OJONG, ONASIS THARCISSE ADETUMI GUEDEGBE, AND JOSEPH GLAUBER OPEN ACCESS | CC-BY-4.0 Cocoa bean prices have been rising since the last quarter of 2023, hitting a record high of $10.97 per kilogram on April 19 (Figure 1). The price spike is due to a significant drop in bean production by major global suppliers—four key producing nations in West and