Behind the Money How high gold prices are fueling a chocolate shortage
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Mar 19, 2025 
Aanu Adeoye, the FT’s West and Central Africa correspondent, discusses the surprising link between surging gold prices and a chocolate shortage in Ghana. He shares firsthand accounts of cocoa farmers struggling against illegal gold mining, which is wreaking havoc on local agriculture. The conversation dives into the environmental destruction caused by this gold rush and the urgent need for reforms in cocoa pricing. Aanu paints a vivid picture of the economic challenges faced by communities caught in the crossfire of these two commodities.
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Gold's Impact
- The rising price of gold, driven by global uncertainty and investors seeking safe havens, has unexpected consequences.
- This demand impacts other commodities, particularly in gold-producing countries like Ghana.
Gold vs. Cocoa
- Ghana's gold mining, fueled by rising prices, causes environmental damage and disrupts the cocoa industry.
- Illegal mining operations pollute water bodies and destroy farmland needed for cocoa cultivation.
Driven to Mining
- A 32-year-old former construction worker in Ghana turned to illegal gold mining due to economic hardship.
- He felt compelled to mine despite the risks, highlighting the limited economic opportunities for young Ghanaians.