Posted 4/4/2024, 10:30:07 PM
Cocoa Boom Tempts Colombian Farmers to Switch from Coca
- Cocoa prices hit record highs on global markets, sparking interest from Colombian farmers to switch from coca cultivation
- Supply issues in major producers like Ivory Coast caused prices to surge over 150% since January 2023
- Cocoa production in Colombia is still low but has growth potential with government support programs
- Higher cocoa prices have started to benefit local Colombian farmers and chocolate producers
- Climate change and pest threats to African crops expected to last 2 years, bringing uncertainty