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From Record Highs to a Crash: How the Cocoa Crisis Is Transforming the Chocolate Industry
Cocoa prices surged from US$2,500 in 2023 to nearly US$13,000 per ton in 2024 before falling sharply again. Yet the crisis exposed deeper issues such as underinvestment, climate shocks and supply concentration. As a result, the chocolate industry is rethinking its supply chain, from West African smallholders to cocoa-free alternatives.
The St. Gallen Financial Economics Review
We are the University of St. Gallen’s only Financial Review. Our team analyses themes ranging from Capital Markets, Equities, and Commodities to the current M&A and Private Equity Outlook and publishes its findings on a rolling basis.
Editors of the Autumn Semester 2025
Stéphane Weber, M&A and PE
Benedict Bornheim, Global Markets
Ali Virit, M&A and PE
Latest Articles
From Record Highs to a Crash: How the Cocoa Crisis Is Transforming the Chocolate Industry
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