The Global Chocolate Market and Its Realities

The chocolate industry, valued at approximately $140 billion worldwide, heavily relies on cocoa production in West Africa, primarily in countries like Côte d'Ivoire, the largest cocoa exporter. Farmers in this region, despite being instrumental to this lucrative market, often struggle to make ends meet, as they receive a mere fraction of the profits from the final products. For instance, cocoa farmers typically earn about 7% of the global chocolate industry's revenue, often surviving on less than a dollar a day, showcasing a stark contrast to the wealth amassed by major multinational companies. The disparity poses significant questions about the fairness of the pricing structures within the cocoa supply chain, further complicating the livelihoods of those who cultivate it and perpetuating cycles of poverty in cocoa-producing nations.