Blogpostcocoa prices are rising fast. This may feel like bad news, but it’s a chance to finally face the real cost of chocolate. A transparent cocoa supply chain is long overdue – and it’s more urgent than ever.
Why cocoa prices are rising
Poor weather is Ghana and Ivory Coast – the world’s largest cocoa producers – is leading to failed harvests. Meanwhile, demand is growing fast in Asia and Africa. That creates scarcity. And with scarcity comes higher prices.
But it’s not just about the weather. Chil labor and modern slavery still exist in cocoa farming. Most farmers don’t earn a living income. On top of that, moving productions to other regions, like Cameroon, risks triggering deforestation. This shows why a transparent cocoa supply chain is essential.
We need real transparency
In 2020, ImpactBuying partnerd with UNIDO to explore if blockchain could trace cocoa from Ghana. The technology worked. The problem wasn’t technical – it was a lack of openness. Traders and governments weren’t ready to share data.
Now, things are changing. New EU laws demand supply chain transparency:
- CSDDD: Companies must map and improve risks
- CSRD: They must report on sustainability
- Green Claims Directive: No more fake “slave-free” labels
- EUDR: No deforeststation-linked products in the EU
These apply direcly to cocoa. Companies can no longer hide behind vague claims
Paying the true price
Yes, chocolate will become more expensive. But that’s how it should be. Prices must reflect the true cost: environmental damage, fair wages and safe working conditions. Rising cocoa prices are a real change to build a transparent cocoa supply chain – one that’s fair, ethical and future proof.
Want to know how we help companies trace and improve cocoa supply chains? Explore our Traceability and Transparency page.