Balaji Bao CEO: El Nio may cause a decrease in cocoa production in regions such as Ecuador and West Africa.

Hein Schumacher, CEO of Barry Callebaut, one of the world's largest cocoa processors, has warned that cocoa production in key growing regions such as Ecuador and West Africa may be declining, with these regions accounting for 60% of global output. He stated in a media conference call on June 2nd, "This is something we are watching very carefully. The impact of El Nio could lead to a sharp increase of thousands of pounds per ton of cocoa." Currently, the trading price of London cocoa futures is 2,944 per ton, down from the peak of over 9,000 per ton in April 2024.