Sago Cocoa’s Post

Global #cocoa prices are soaring to 276% YoY, with environmental factors like dry conditions and crop diseases constraining production in Ivory Coast and Ghana, which collectively produce more than two-thirds of the world's cocoa. Read our analysis to learn more about how these challenges affect the global #chocolate industry: https://hubs.la/Q02v_sx40 #EmpowerTomorrow

https://lnkd.in/gDdnJts2 a share in connection with the #climateeffect on #globalsupplychain. #demandsupply #supplymanagement more information on the agro business of cocoa and it's endemic challenges and why Ghana and Costarica supply cocoa and do not produce chocolate?

The price of cocoa, one of the raw ingredients of chocolate has skyrocketed since the start of the year with this week prices hitting all-time highs of more than $10,000 a tonne for the first time. Ghana and Cote d'Ivoire in West Africa produce more than half of the world's cocoa with smallholder farmers the bedrock of the industry, but they still don't receive a fair price for their beans. It's estimated farmers receive just 6-7% a chocolate product. Quoted in The Guardian, Mighty Earth's Senior Adviser for Africa, Amourlaye Touré says the price hike won't benefit farmers: “Cocoa prices have reached record levels on the international market. Paradoxically, this does not mean higher incomes for producers. The record cocoa prices will benefit the cocoa-producing countries themselves little, as the raw material is transformed into a finished product after being exported.” Read the article by Patrick Greenfield in full⬇️ https://lnkd.in/dcm9fVVP

Attention chocolate enthusiasts! A cocoa crisis is brewing in West Africa, and it's set to impact your favourite treats. Ghana and Ivory Coast, the world's top cocoa growers, are facing catastrophic harvests due to illegal gold mining, climate change, mismanagement, and disease. This has led to record-high cocoa prices, with New York cocoa futures more than doubling this year alone. The situation is dire, with Ghana's cocoa marketing board estimating that 590,000 hectares of plantations are infected with swollen shoot, a virus that will ultimately kill the trees. This could spell the beginning of the end for West Africa's cocoa supremacy and open the door for other producers, particularly in Latin America. As a result, chocolate prices are expected to continue rising, with some experts predicting that the chocolate bars we're used to eating could become a luxury item. At CropLife Africa Middle East, we're closely monitoring this situation and working to support sustainable cocoa production in the region. We believe that advanced crop protection technologies, such as precision agriculture tools and innovative pest management solutions, can play a crucial role in improving cocoa yields and helping farmers combat the challenges they face. It's crucial that we address these challenges to ensure a stable supply of cocoa for the world's chocolate lovers and to support the livelihoods of millions of cocoa farmers in West Africa. By embracing cutting-edge crop protection technologies, we can help build a more resilient and sustainable cocoa industry. Read more about the cocoa crisis in this eye-opening article from Al Jazeera: https://lnkd.in/dCptAWgG #CropLifeAME #CocoaCrisis #WestAfrica #SustainableAgriculture #CropProtection #Chocolate

Expect #shrinkflation to take away from the size of your #Easter eggs 🥚 🍫. The price of #cocoa is near all-time highs ($5,500/ton) due to "bad weather conditions hammer crop yields in West Africa, home to three-quarters of the world’s production." Takeaways: (1) Ivorian cocoa output is said to have decreased by 20% and could go another 5% lower, according to the nation's Agriculture Minister. (2) Although bad weather has not impacted Peruvian cocoa, its price has increased from 7 to 21soles/kg. (3) Peruvian cocoa is the center of biodiversity for the bean and the world's organic and #fairtrade production. Smaller chocolate eggs for consumers and hard times for Ivorian and Ghana producers are occurring simultaneously with increased profit potential for organic and fair trade cocoa triples. This increase in profits could lead to a larger future market share for Peruvian farms if that short-term increase in funding is put into infrastructure and #farmtech. -GSP- #4thindustrialrevolution #farming

🌍 Understanding the Global Cacao Market and its Dynamics The global cacao market is at a crossroads in 2024. As cacao prices soar due to increased demand and climate challenges, West Africa continues to dominate production. Yet unpredictable weather and supply chain disruptions are shaking up the industry, making it difficult for many chocolate producers to secure sufficient supply. Why does this matter? Rising prices are the direct result of years of sluggish crop extension. Farmers had little to no incentive to invest in their crops as market prices barely covered the subsistence level. If you wish to read further, find our blog article on the state of the global cacao market here: https://lnkd.in/dJdpwVPp To pave the way towards a brighter future, now is the time for companies to invest in resilient farming practices and transparent, fair supply chains. As consumer awareness grows, there's a clear demand for ethically sourced cacao - we will cover this topic in our next blog article, so stay tuned! If you are interested in sourcing ethically traded, fine cacao from IKAT, you find more information on our product range on our B2B website: https://lnkd.in/dc8DUf4R Join the movement to create a sustainable and ethical future for cacao! 🌱✨ #CacaoMarket #Sustainability #SustainableFarming #FairTrade #EthicalBusiness #FoodIndustry #CacaoRevolution

Sharing the article below on the soaring prices of cocoa bean during the recent harvesting season. Its industry knowledge that escalating cocoa bean prices (thus cocoa powder) since the last 5-6 years have had a huge impact on manufacturing companies who utilizes much of these raw materials for their production of chocolate and cocoa-related food products. There are very good solutions available in my opinion to mitigate the soaring prices of Cocoa or to optimize extraction / production process for cost savings. What are they? Option A (Enzymes for process optimization and quality improvement): Fermentation is a crucial step in cocoa beans processing. Enzymes can be introduced at the Fermentation step. It helps to break down pectin in the cocoa pulp, promoting better microbial penetration and oxygen flow, which leads to more effective fermentation. This result in a faster fermentation process and enhance flavor precursor development. Enzymes breaks down plant cell walls and releases sugar from the pulp, which serves as fuel for fermentative microbes. This in turn can enhance sweetness and bring up the profile intensity of Cocoa. Option B (Flavors in combination with Carob Powder as partial cocoa replacement): Carob Powder acts as a Cocoa Powder alternative. As it may lack certain taste attributes of Cocoa, hence, the use of Flavors tools (which may contain Cocoa Extracts and certain Flavors enhancers) in combination with Carob powder to enhance the profile characteristics of Cocoa would make it work a lot better. It is however to be noted that realistically you can only target Cocoa replacement at the 30% level. Its exciting to know that whichever cocoa crisis situation you are in, there's always solutions available and these solutions can present as new opportunities for Enzymes and Flavors producers or as a tool for food manufacturers to mitigate the rising cost of raw materials and improve their end products. 😃 #enzymes #cocoabeans #cocoapowder #cocoacrisis #costsavings #flavors #cocoapowderreplacement #foodingredients

https://lnkd.in/gM_iVz_W LONDON/ACCRA, March 13 (Reuters) - 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 are likely to soar.Chocolate-makers have already increased prices to consumers, after three years of poor cocoa harvests, with a fourth expected, in the two countries that produce nearly 60% of the world's cocoa.

Dive into the heart of chocolate with Visual Capitalist's infographic, "The World’s Top Cocoa Producing Countries". Unveiled is the staggering fact that Africa leads with over 70% of the world's cocoa production, spotlighting Côte d'Ivoire and Ghana at the helm. This insightful graphic not only ranks the top producers but highlights Africa's pivotal role in satisfying our global chocolate cravings. A sweet revelation for industry experts and chocolate lovers alike. Click to explore the rich tapestry of cocoa production and its impact on the global stage. #CocoaProduction #GlobalEconomy #AfricaDominance

Ever wondered how cocoa beans are grown? Here are some facts: ✅ 1. Cocoa Trees and Climate: Cocoa trees thrive in tropical climates near the equator, needing high humidity, ample rainfall (1000-2500 mm annually), and temperatures between 21-32°C (70-90°F) for optimal growth. Source: ICCO - Growing Cocoa 2. Cocoa Pod Development: Cocoa pods grow directly on the trunk and branches, each containing 20-50 beans surrounded by sweet-sour pulp. Pods take 5-6 months to mature from flowering to harvest. Source: FAO - Cocoa Production and Processing 3. Post-Harvest Processing: Cocoa pods are opened to extract beans and pulp. Beans undergo fermentation, drying, sorting, and packing before transport to processing facilities. Source: Penn State University - Cocoa Bean Processing Curious about where chocolate is consumed the most? 🍫 Check out these top chocolate-loving countries! 1. Switzerland: Approx. 19.8 pounds per capita per year. 2. Germany: Approx. 17.5 pounds per capita per year. 3. Austria: Approx. 16.1 pounds per capita per year. Sources: International Cocoa Organization, Statista And, for the top cocoa-producing countries: 🌍 1. Ivory Coast: Produces about 4.4 billion pounds annually. 2. Ghana: Yields approximately 1.95 billion pounds per year. 3. Indonesia: Produces around 1.46 billion pounds annually. Source: World Atlas #Cocoa #Supplychain #Chocolate #CocoaFarming Image credit: https://lnkd.in/eie5zdTj