In 2024, the price of cocoa beans—chocolate's essential ingredient—more than doubled compared to 2023. This surge isn't just economic; it's a wake-up call about climate change.
For every 5 pounds of cocoa beans sold globally, 3 come from West Africa. The region is increasingly vulnerable to changing weather patterns affecting cocoa production.
In 2024, a devastating drought in Ghana cut the country's cocoa production by nearly a third, leading to a global cocoa shortage that caused prices to skyrocket.
In May 2024, the cost of 1 metric ton of cocoa beans hit nearly $11,000—an increase from just under $3,000 a year earlier, spotlighting the crisis.
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