• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Cocoa shortages force shutdowns at Ghana’s top processors

1 year ago
in Agribusiness, Economy, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
122
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cocoa shortages force shutdowns at Ghana’s top processors

Ghana’s cocoa processing units have been falling silent as a shortage of beans deepens in the world’s second-largest grower.

Cargill Inc., along with local firms Cocoa Processing Co. Ltd. and Niche Cocoa Ghana Ltd have all had to shut down their units intermittently over the last few months, according to people familiar with the matter. The companies declined to comment.

The effects are palpable on the streets around Cargill’s factory in Ghana’s port city of Tema. On a recent visit, the smoke-belching chimneys and the humming machinery were silent. Dry and dusty Harmattan winds replaced the chocolate-y aroma usually wafting outside.

The Harmattan is partly to blame for the crisis Ghana’s cocoa industry finds itself. Extreme weather has battered West Africa’s crop — first heavy rains swamped the fields, prompting the spread of disease and delaying harvest. Now the heat could further crimp production and keep global supplies on track to fall short of demand for a third season.

Such processing plants churn raw beans into products like cocoa butter and powder, which create the smooth, melty texture of chocolate bars and other sweets. From West Africa, much of that supply is typically bound for Europe and North America and any shutdowns signal to the shortages looming ahead.

The supply crunch has seen New York cocoa futures soar past records set in the 1970s and is set to make treats pricier.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

The situation is “very serious, the market is very tight,” Paul Joules, a commodity analyst at Rabobank in London, said. “This is a mammoth concern for the industry and will undoubtedly have an adverse impact on future grindings.”

Ghana’s bean arrivals at ports through Jan. 12 dropped by about 30% compared to the last season. Apart from the deficit, the country’s strict market controls have also resulted in growers smuggling their output to neighboring countries in search of better prices.

Ghana’s neighbor and top-producer Ivory Coast is on the verge of a similar crisis.

For the main-crop harvest, which started October last year and ends in March, the industry regulator is in deficit to the tune of as much as 100,000 tons of beans on forward sales, Bloomberg reported last week. Bean arrivals at ports there are down nearly 38% to 1.08 million tons so far in 2023-24.

Units of Cargill, Barry Callebaut AG and Olam Group Ltd. are among companies that may be forced to stop their machines, the people said.

A spokesperson for Barry Callebaut noted the decline in Ivory Coast’s crop but refused to comment on “purchases or capacities in our production network.” Olam also acknowledged the shortages, but a spokesperson said the company was “well-positioned to continue fulfilling our customers’ needs.”

Cargill may “reduce its capacity,” a spokesperson said, “depending on how the situation evolves.”

The situation highlights that the current upward pressure on futures prices is far from over.

“The likes of black pod disease, swollen shoot, farmers exiting out of cocoa are not issues which can quickly be solved and this means global cocoa supply could be tight for many years to come,” Joules said. “Chocolate companies will be forced to pass on these higher prices to consumers.”

Source: bloomberg
Via: norvanreports
Tags: cocoa shortagesCocoa shortages force shutdowns at Ghana’s top processors
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.