Cocoa crisis in the world, incentive for production in Colombia
Currently, the cocoa sector worldwide has faced multiple crises in its production due to the climate changes that are occurring. Africa, Ivory Coast and Ghana, countries that provide approximately 70% of the world's cocoa production and are considered the main suppliers of this product, are going through great challenges due to the heavy rains that are affecting their crops in price and production. However, in Colombia the panorama is different and national producers are taking advantage of this situation.
From the National Cocoa Fund, the figures show that in 2023 cocoa was exported for more than 125 million dollars, and according to Eduard Baquero López, president of Fedecacao, for this first quarter of the year cocoa production has increased by 500 tons, which makes our country a potential producer, being even more visible in the market.
Despite the data mentioned above, there are still rumors in the sector due to the strong crises in the market, but analyzing in detail the behavior of production, it is shown that there is significant growth in terms of the price of this raw material in the New York Stock Exchange since during the last year the value tripled registering a price of $5,874 per metric ton of cocoa in the month of February, data that shows an increase of 40% compared to the beginning of 2024; But what has caught the attention of analysts is that the maximum price recorded in 1977 was exceeded, when it reached a value of $5,379 per ton.
Challenges for Colombia
Today, Colombia must make the most of this panorama to strengthen its plantations and, in turn, productivity. At a global level, the country is in tenth position in production in the world and in Latin America as the fifth most cocoa-producing country, which focuses efforts on continuing to assume the challenges of the market in order to surpass other countries in production such as Ecuador and Brazil, who are still ahead of us.
“The issue of cocoa in Colombia has grown for many years, thanks to the contribution that producers have made through the National Cocoa Fund, which is a contribution that they themselves make.
We as a Federation are working closely with the National Government to generate a State policy that allows cocoa and cocoa producers to consolidate much more. For this, a series of measures are needed, because it is not just production, living conditions and other types of conditions such as marketing must be guaranteed, preparing for the new regulations that the European Community has. In general terms, greater coordination with the Colombian State is required”
To have more details about the panorama in this sector, learn about the interview that the Nuevo Siglo media had with the president of Fedecacao Eduard Baquero López
