Chocolate Could Get Even Pricier If Africa’s Cocoa Crop Flops

New West African harvest is starting and output will be key
Tight supply risks more inflationary pressure for treats

Cocoa pods are harvested in Azaguie, Ivory Coast. African cocoa farmers have faced higher costs and shortages of fertilizers and pesticides.Photographer: Andrew Caballero-Reynolds/Bloomberg

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By Mumbi Gitau and Baudelaire Mieu

September 30, 2023 at 6:00 AM UTC

Updated on

September 30, 2023 at 4:46 PM UTC

This article is for subscribers only.

Chocolate risks becoming even more expensive if West Africa’s new cocoa harvest ends in disappointment.

Cocoa prices have soared about 47% in the past year on fears that bad weather and crop disease will hurt output in Ivory Coast and Ghana, which make up two-thirds of world supply. An El Nino weather phenomenon could make matters worse, and analysts expect a third straight global shortage for the new season that’s just starting.