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Global cocoa supply severely short, cocoa prices soar.
On November 24th, Jinshi News reported that in Germany, the demand for chocolate has significantly increased recently as the traditional end-of-year holidays approach. Industry insiders pointed out that most of the world’s cocoa is produced in West Africa, but since last year, major cocoa-producing countries in West Africa, such as Côte d’Ivoire and Ghana, have experienced widespread crop failures, leading to the most severe cocoa supply shortage in over 60 years worldwide. As a result, cocoa prices have soared.