Description

Ivory Coast - The Heart of Cocoa Production and Declining Yields

• Overview of Côte d'Ivoire's position as the world's leading cocoa producer.
• Discussion on the annual cocoa production of approximately 2 million metric tons and the country's dominance in the global market.

Yield Decline and Contributing Factors:

• Examination of the decline in cocoa yields in Côte d'Ivoire from 700 kg per hectare in 2000 to around 500 kg per hectare in 2022.
• In-depth analysis of the factors leading to this decrease:
  • Climate change and its impact on weather patterns, soil moisture, and cocoa tree health.
  • The consequences of deforestation, including soil degradation and increased pest populations.
  • The challenges posed by aging cocoa trees and the lack of resources for replanting.
  • Political instability affecting infrastructure, market access, and sector governance.

Market Turbulence in 2023 and 2024:

• Exploration of the market challenges faced in the last two years, including significant decreases in cocoa shipments and impacts of the Cocoa Swollen Shoot Virus (CSSV).
• Discussion on the record-high cocoa prices in international markets and the supply shortages that have led to dramatic price increases.
• Overview of government interventions in Ivory Coast and Ghana to stabilize cocoa prices and encourage production.

Global Impact and Future Outlook:

• Analysis of the projected decrease in suitable areas for cocoa cultivation by 2050 due to climate change.
• Consideration of the global cocoa market's response to decreased supply from West Africa.
• Predictions for the cocoa industry's sustainability and economic stability.

Additional Resources:

• Links to studies and reports from the International Center for Tropical Agriculture (CIAT) and the World Cocoa Foundation (WCF).
• References to recent legislation such as the European Union’s deforestation regulations.