Ghana: Chocolate Lovers in Ghana Feel the Crunch As Prices Skyrocket Amid Cocoa Market Turmoil

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This dramatic price increase is primarily due to an unprecedented surge in the international price of cocoa beans. A year ago, cocoa was selling for just over $3,000 per metric ton but soared to over $12,000 by mid-April this year, before settling at just above $8,000 last week.

The beloved confectionary, chocolate, is experiencing an unprecedented price surge in Ghana, making it increasingly unaffordable for many who once enjoyed it regularly. Currently, a bar of Ghana's popular Kingsbite chocolate sells for GH¢32 for 100g and GH¢18 for 50g. In January 2024, these same bars were priced at GH¢15 and GH¢8- GH¢10, respectively, marking an increase of about 100% in just five months.

have been the world's leading cocoa producers, supplying over 60% of the global cocoa beans. However, recent years have seen a worrying decline in production, threatening this dominance.There was a problem processing your submission. Please try again later. Compounding these issues is the rise of illegal gold mining. The allure of quick wealth has driven miners to encroach on cocoa farms, causing deforestation and pollution of vital water sources. This environmental destruction further exacerbates the decline in cocoa production.

Ghana, synonymous with rich, dark chocolate, faces a complex challenge threatening its signature product and the livelihoods of countless Ghanaians involved in the chocolate trade. The noticeable decrease in chocolate availability on the streets of Ghanaian cities underscores the impact of the price hikes. Chocolate producers are not spared either as they struggle to get beans and at exorbitant price to sustain their business.

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