HARARE, September 2. /TASS/. Specialists revised the estimate for the deficit of the global cocoa beans harvest in the season of 2023-2024 from 439,000 metric tons to 462,000 metric tons, Agence Ecofin reports, citing data of the International Cocoa Organization.

Deliveries of cocoa beans to the international market are expected to drop by 14.2% to 4.3 million metric tons. This is largely due to the falling harvest in West Africa, which accounts for the lion’s share of cocoa beans production. Experts believe the Ivory Coast, the top exporter of this commodity worldwide, will harvest 1.7 million metric tons, while the harvest in Ghana will be 450,000 metric tons.

Adverse weather conditions, ageing of trees, thefts and diseases are mentioned among negative factors.

The average price per metric ton of cocoa beans increased in the global markets from $4,000 to $10,00 as compared to 2023.