Cocoa is one of the most valuable commodities in the world. The industry produces more than 2.8 million tons annually, estimated at $80 billion. In 2022, the cocoa industry saw an increase and should thrive in 2023.
However, the supply chain has become a problem. From inflation, climate change and monoculture plantation production, producers, mainly in Ghana and Côte d'Ivoire, are rightly pushing back on inequitable exchange with the industry. Côte d'Ivoire and Ghana make up, as estimated, 60% of cocoa production worldwide.
The cocoa industry is no stranger to challenges, particularly the farmers. A difficult financial period is anticipated, and if that turns out to be accurate, what happens to the farmers?
Social and economic sustainability strategies provide solutions to ensure commercial gains and profits hit the supply chain, including the farmers.
Photo Credit: ai designed by Sabrina Clarke
