Five cocoa exporters, three pod counters and a dozen farmers in the region estimate that export volumes are expected to fall by 28.5% year-on-year during the first three months of the 2023/2024 season.
This drop is mainly attributed to unstable weather conditions in the region which naturally weaken production.
It should be remembered that cocoa cultivation requires periods of regular rainfall and sunshine. However, West Africa, which includes countries like Ivory Coast, Ghana and Nigeria, therefore the main cocoa producers in the world, is experiencing poor growing conditions.
Concern over harvests has caused a sudden rise in world cocoa prices in recent weeks, reaching their highest level since 1977.
According to exporters and pod counters, annual cocoa production for Ivory Coast is expected to be around 1.9 million tonnes this season, compared to nearly 2.3 million last season.
Source: AfricaNews