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The country that grows 45% of the world's cocoa gets
4% of the chocolate industry's revenue.
Switzerland, Germany, and Belgium do the manufacturing and branding — and keep most of the value.
For Côte d'Ivoire, cocoa is just a raw material that leaves the country at its cheapest point.
This year cocoa prices fell 54%.
There's no cushion — because they sell beans, not chocolate bars.
Same pattern: Zambia with copper. Nigeria with oil.
https://malmonde.substack.com/p/why-growing-the-cocoa-is-the-worst
#local
4% of the chocolate industry's revenue.
Switzerland, Germany, and Belgium do the manufacturing and branding — and keep most of the value.
For Côte d'Ivoire, cocoa is just a raw material that leaves the country at its cheapest point.
This year cocoa prices fell 54%.
There's no cushion — because they sell beans, not chocolate bars.
Same pattern: Zambia with copper. Nigeria with oil.
https://malmonde.substack.com/p/why-growing-the-cocoa-is-the-worst
#local
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