Chocolate Market Dynamics

The chocolate market dynamics are influenced by the increase in demand each year, which correlates with the rise in GDP and the expanding middle class. However, a significant challenge arose due to crop failures in four West African countries, leading to a 75% reduction in the global chocolate production. The low prices in the market have left farmers in poverty, unable to invest in new trees, fertilizers, and pesticides, resulting in decreased yields and increased vulnerability to adverse weather conditions and diseases. The recent severe weather in West Africa exacerbated the situation, along with the spread of the Swellingshoot disease, leading to a substantial drop in chocolate production and a significant increase in prices.