The effects of El Niño will cause cocoa harvests in Côte d’Ivoire and Ghana, which account for more than half of global output, to fall by around 20% this year. But the related surge in cocoa prices means that, if anything, overall incomes are likely to rise, providing some welcome support to balance of payments positions. Further out, producers face the challenge of adhering to the EU’s Deforestation Regulation.
In view of the wider interest, we are also sending this Africa Economics Update to clients of our Commodities Overview service.
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