I’ve been hearing a lot about the price of cocoa lately, so why not discuss it myself?
There are two interesting prices, in my view: the one I pay (obviously!), and the one the producers receive, per kilogram.
Since last January, I’ve benefited from an average 20 % increase in the price of cocoa I’m buying—20 % in five months. That’s because I reserved my bags in advance; otherwise, there’d be none! Part of that is because the upcoming order is for rarer, higher-demand cocoa, but also because cocoa prices have risen everywhere. Supply has dropped and demand has increased—there’s no escaping it.
On the producer side, let’s start with Ghana and Côte d’Ivoire, the two largest producers in the world. In both countries, the government sets the minimum price for cocoa. In Ghana, the price rose from US $1.25/kg in 2022/2023, increasing gradually to US $3.00/kg in 2024/2025, and will go up to US $5.04/kg in 2025/2026. For Côte d’Ivoire, it goes from US $1.65/kg in 2023/2024 to US $2.90/kg in 2024/2025, and will increase to US $3.63/kg in 2025/2026. In other countries like Cameroon and Nigeria, prices stand around US $2.40/kg.
These are good developments for producers, as they finally benefit somewhat from the speculation that has surrounded commodity cocoa in recent years. In bean-to-bar, we’re working with specialty cocoa—pricier and higher quality (fewer defects, better fermentation and flavor, etc.)—and the prices paid to producers are already in the ballpark of US $6–10/kg. Always a good outcome for producers.
I can’t discuss all these prices without mentioning Fairtrade. The Fairtrade Living Income Reference Price (LIRP)—applied only in Ghana and Côte d’Ivoire—is a voluntary benchmark for producers suggested by the organization. In Ghana, it will rise to US $2.68/kg in October 2025, and in Côte d’Ivoire to US $2.80/kg. In other countries, the Fairtrade Minimum Price (FMP) is US $3.50/kg, paid at the export port (FOB). That amount is divided among the exporter, the producers’ association, and the farmer. Some… disparities can be seen there, to be generous.
As with many things, the best way to ensure everything is done right is to know where it comes from. Or, as they say in market gardening, “know the name of your farmer.” Food for thought.