cocoa

El Niño is expected to cause droughts in Africa, threatening cocoa and coffee crops in Ghana and Côte d’Ivoire, which supply over half the world’s cocoa. The droughts could reduce outputs, drive up global prices, and harm farmers who do not benefit from government-fixed prices. The IMF’s Africa chief announced plans to support nations affected by conflict-induced shocks.

Ghana and Côte d’Ivoire, the world’s top cocoa producers, agreed to harmonize purchasing prices and harvesting calendars to stabilize global market volatility. The nations aim to revive a 2018 cocoa OPEC pact to protect farmers and address price shocks, as cocoa drives significant economic activity in both countries.

Ghana secured private sector deals worth £215 million during President John Dramani Mahama's UK visit, aiming to attract investment after recovering from an economic crisis. The country exited a $3 billion IMF bailout program and targets an investment-grade credit rating within three years, while addressing concerns about mispriced African debt and restructuring tools.

Nestlé CEO Philipp Navratil stated that reduced coffee and cocoa costs will improve company margins. The announcement highlights anticipated financial benefits from lower raw material expenses.

A federal jury in Jacksonville, Florida convicted Frederick Karl Hildenbrand of nine counts of producing child sexual abuse material and two counts of possessing CSAM. Hildenbrand faces a minimum of 15 years and up to 30 years in federal prison for each production count, with sentencing scheduled for September 22, 2026.

Ivory Coast is considering quarterly price reviews for cocoa amid a global cocoa crash, as production declines in West Africa and an EU regulation aimed at stopping deforestation threatens to further increase prices.