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Ghana's Cocoa Price Surge: A Bitter Truth for Chocolate Lovers

Published: 12 August 2025

Last week, La Presse reporters spoke to agronomist and economist ʲճéܱ about a recent price surge of 62.58% for Ghanaian cocoa, a move aimed at supporting its struggling farmers. This significant price hike is expected to affect not only other cocoa-producing countries but also global chocolate manufacturers and consumers.

“There was already a lot of pressure on cocoa prices because of climate change and aging plantations. Droughts and irregular rainfall have led to lower yields,” Thériault explained and specified that while global market prices had been rising, producers had not yet seen significant increases in their earnings. “Cocoa is a commodity traded on global markets, so prices have gone up, but the price paid to producers hadn't changed much.”

Ghana’s decision, which fulfills a campaign promise from President John Mahama, adds a new variable that will likely influence the cost of chocolate for consumers. Thériault warned that this could result in lower-quality chocolate products unless prices are adjusted: “Mass-market chocolates like Kit Kat, Caramilk, and Aero could see a drop in quality to avoid a significant increase in retail prices.”

Other chocolate industry figures echoed this concern. Maxime Simard, cofounder of Qantu chocolat et cacao, predicted the price per kilo of cocoa could rise from $8 to $10 or even $12 USD. He emphasized, “Of course, it’s going to affect the price of chocolate.” Still, he believes his customers—who buy his artisanal, higher-end bars—may be more tolerant of price hikes.

Juliette Brun, founder of Juliette & Chocolat admitted that in 22 years of career, she's never seen a decrease in cocoa prices. She emphasized the complexity of cultivating cocoa and suggested consumers will need to make choices: “Do we want to consume better, or consume more and worse?”

Thériault and others conclude that while the price hike may help Ghanaian farmers, it signals continued volatility and upward pressure on chocolate prices worldwide.

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