This 5th edition of the World Cocoa Conference focus ed on discussing equitable distribution of value along the cocoa supply chain, which will help ensure a better living income for farmers in Africa.
For the last few weeks, c ocoa prices have been rapidly increasing due to worse-than-expected harvests from Western African countries such as Ghana and Ivory Coast, squeezing cocoa supplies worldwide.
The jump in prices is due to poor harvests, as a result of extreme weather in important cocoa-producing countries in West Africa.
The prices jumped to all – time highs, touching over $10,000 (€9,234.3) per ton, before settling back at $9,622 per ton around last week , following disappointing harvests in key cocoa-producing countries such as Ghana , Ivory Coast and Cameroon .
Ageing cocoa trees also contributed to lower harvests, as they are more susceptible to disease. This also means that they are more expensive to maintain, with several farmers choosing to abandon old cocoa trees and farms, for greener pastures.
The jump in prices do not seem to be translating into gains for cocoa farmers, who are still struggling considerably with increased production costs and reduced crop yields.
In a joint statement issued today by the two largest cocoa growing giants indicated that they will remain vigilant on the ground to report on the real progress of interventions agreed upon when the time comes for accountability .
According to the statement, the two platforms took an active part in the 5 th edition of World Cocoa Conference held in Brussels, Belgium from 21 to 24 April 2024.
T he cocoa giants use d the opportunity congratulate the International Cocoa Organisation (ICCO) on the successful organisation of this global event.
The Platforms also welcome d the ICCO’s commitment to the fundamental issue of the purchase price of cocoa which reflected in almost all conversations but was unhappy with the poor representation of Ghanaian producer organisations and NGOs on the discussion panels .
