Chocolate prices in South Africa have risen significantly over the past year due to a global cocoa shortage, with chocolate slab prices increasing by 7% in 2024 alone. The surge in prices is driven by record-high cocoa prices, reaching over US$10,000 per tonne in April 2024, amid weather challenges and crop diseases affecting cocoa production in West Africa. However, experts anticipate a turnaround as cocoa production is expected to exceed demand by 303,000 metric tons in the upcoming 2024-25 season, potentially ending three consecutive seasons of deficit.
