Fear of the deadly virus outbreak spreading to the cocoa-producing countries of Ivory Coast and Ghana has combined with increased demand from Asia to raise the price, according to Mintec, a provider of statistical information and market analysis.
The price has risen despite an increase in this year’s predicted crop in those countries, where output has been revised upwards to 4.35 million tonnes.
“Cocoa powder prices have risen recently over fears that the Ebola outbreak in West Africa will spread to the major cocoa bean producing countries of Ivory Coast and Ghana and cause widespread disruption,” said Mintec.
