Cocoa beans have outperformed Bitcoin in 2024, with prices increasing by approximately 185%, surpassing Bitcoin’s growth of around 128%.
This surge in cocoa prices is primarily due to the largest global supply deficit in 60 years, caused by adverse weather conditions in West Africa, particularly Côte d’Ivoire.
The International Cocoa Organization reported a production deficit of 478,000 metric tons for the 2023-2024 season, expecting a 13.1% drop in world production and a 26.8% decline in end-of-season stocks.
