The high price of cocoa beans along with consumer concerns and government regulations surrounding deforestation and child labour have sparked a hunt for new chocolate ingredients. The Swiss chocolate industry is under a lot of pressure. Cocoa prices have reached record highs, recently surpassing $10,000 (CHF9,150) per tonne for the first time. Poor weather and disease in Ivory Coast and Ghana have led to a deficit in cocoa beans for the third year in a row. The two West African countries account for about 60% of global cocoa production. “Compared to the average prices recorded a year ago ($2,752 per tonne in London and $3,040 per tonne in New York), the average prices seen in April 2024 represented significant increases of 301% and 244% respectively,” said the International Cocoa Organization (ICCO) in its market review for April. To add more pressure, the European Union has introduced a “zero deforestation” supply chain regulation which will come into force in January 2025. Seven ...
