Cocoa Bean Shortage 2024 News. Cocoa prices have doubled during the past year, with the most active futures contract hitting $5,600 a metric ton on thursday, bloomberg reported. After a steady rise over two years, the price of cocoa beans skyrocketed in early 2024, with futures contracts more than doubling in three months to reach a level in.

I’m not saying there’s no risk, but the cocoa shortage will continue to hover over the sector until we have more comfortable volumes in the harvest,” said ms. A recent cold snap in brazil, which accounts for roughly a third of the world’s coffee production — 70 per cent of which is arabica — has sparked fears of a supply.