Cocoa Bean Shortage 2024 News. 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. Mondelēz international bosses have cautiously signalled further cocoa pricing stability while at the same time the sweets and snacks giant prepares to push higher prices.
As of early 2024, cocoa prices have surged to over $11,000 per metric tonne, nearly tripling the average prices since the 1980s. A recovery in cocoa production in the world’s largest growers is set to put an end to a massive bean shortage that sent prices surging to a record this year, according to commodities broker.