Global cocoa market sees steep price rise amid supply shortfall
BY JOSEPH GLAUBER AND ABDULLAH MAMUN OPEN ACCESS | CC-BY-4.0 Cocoa bean prices have climbed to record nominal levels over the past six months, more than doubling since August 2023 (Figure 1). This price spike has largely been driven by weather-related diseases that have reduced cocoa production in key West African countries accounting for almost three quarters of world