Rising cocoa prices, reducing production volume

The cyclic changes in the price of cocoa are serious threats to the West African small farmers, but the sweet industry seeks to nake the production more efficient and sustainable with new investments in long terms – according to the joint analysis of the PricewaterhouseCoopers (PwC) and the GeoTraceability natural resource research firm.

According to the research sent to MTI on Tuesday for the September cocoa prices that were 30 percent higher than in 2013 have projected that due to the uncertainties of the cocoa bean production, teh market may be more prone to instability. It is feared that the spread of ebola towards the Ivory Coast and Ghana may also affect the prices as these two countries givefor 60 percent of world cocoa production. (MTI)