Is There A Cocoa Shortage 2024. A shortage of cocoa beans has led to a near shutdown of processing plants in côte d’ivoire and ghana, the two countries responsible for 60% of global production. Cocoa’s meteoric price rise +132% has trumped both nvidia (+90%) and bitcoin’s (+65%) price performance in q1 2024 1.
Chocolate may never be the same. Its high cost due to a global cocoa shortage, however, has limited chocolate innovations this past year.