Cocoa Shortage 2024 Chevy. A recovery in cocoa production in the world’s largest growers is set to put an end to a massive bean shortage that sent prices surging to a record this year, according to. In april 2024, the ivory coast government increased the farmgate price by 50% from 1000 francs cfa (~$1.64) to 1500 cfa (~$2.46) per kilogram of cocoa beans.
Major african cocoa plants in ivory coast and ghana have stopped or cut processing because they cannot afford to buy beans, four trading sources said, meaning chocolate prices around the world. After a production shortfall in west africa, cocoa prices rose to $4,000 a metric ton from $2,500.
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