The Cocoa Shift: How India’s Agribusiness Sector Can Capitalize on Africa’s Decline in Cocoa Production

 More than 60 percent of the world's cocoa is produced in West and Central Africa, especially in Ghana and Ivory Coast. Climate change, however, is disrupting this dominant position. The region's cocoa productivity has started to decline due to rising temperatures, unpredictable rainfall, and degradation of the soil. Nearly 47% of West and Central Africa may no longer be useful for cocoa farming by 2050, according to research. Production in the northern belt is expected to drop by 12%. A strategic change in buying preferences is expected as an outcome of the rising demand, and will likely result in higher cocoa prices, which are already up by more than 40% in 2024. Despite being a relatively small participant at present, India stands to benefit greatly as manufacturers from around the world look for alternate sources to expand their supply chains. 

Global businesses are already in motion. By investing in local R&D and farming capability, Mondelez, the company that makes Cadbury, is increasing the amount of cocoa production with a target of 5,000 more hectares. By the end of 2024, the Barry Callebaut Group expects to have invested INR 425 crore on its Neemrana facility, making it the third-largest chocolate manufacturing facility in Asia-Pacific. Additionally, India has a distinct agroclimatic advantage in areas like Kerala, Tamil Nadu, and Andhra Pradesh, where cocoa can be cultivated alongside coconut and arecanut as an intercrop. Through 2030, the Indian cocoa market is expected to expand at an average CAGR of 8.2%, opening prospects for value-added goods, exports, and processing. India's agriculture industry should take advantage of this turning point as Africa's drop changes the global cocoa narrative. This may be done by investing in climate-resilient cocoa varieties, updating post-harvest infrastructure, and creating cooperative structures that empower smallholders.

Join with The India Watch, a top market research and consultancy company, to see how your company may capitalize on these new trends. For sectoral in-depth analysis, location evaluations, and unique insights that help you in making wise investment choices in India's changing agricultural environment, visit us at https://theindiawatch.com/





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