World cocoa production at risk as prices plunge

Posted On: Jun. 13, 2019 6:23 AM CST

Cocoa producers in Ivory Coast and Ghana threatened to stop selling their crop unless their pricing demand of $2,600 per ton of cocoa is met, Yahoo News reported citing sources. The two African countries account for 60% of global cocoa production. An analyst at France-based financial information firm Commodafrica said that drought in Ivory Coast could also cause a shortfall in cocoa harvest this year.