Daijiworld Media Network – Mangaluru (MS)

Mangaluru, Apr 20: The price of cocoa has surged to Rs 300 per kilo due to a supply shortage in both local and international markets. 

A Kishore Kumar Kodgi, the president of Campco, reported that cocoa, previously priced at Rs 85 per kilo, has now skyrocketed to Rs 300. Campco is actively collecting cocoa seeds and offering subsidized plants to growers to mitigate the situation. 

Kodgi explained, "The sudden spike in cocoa prices is attributed to a scarcity in the market, with African countries also experiencing supply shortages. Additionally, cocoa farmers in Andhra Pradesh were impacted by a cyclone, further exacerbating the supply crunch. In coastal Karnataka, cocoa cultivation is limited, and farmers are facing challenges such as rising arecanut prices and monkey-related crop damage." 

He added, "Previously, raw seeds were priced between Rs 55 to 85, and dried seeds between Rs 210 to 240. However, the current rate has surged to Rs 875. Many farmers have halted cocoa cultivation. Karnataka's cocoa yield has plummeted to 1000 metric tonnes."

Kodgi emphasized that the first season of cocoa production has just commenced and will last until July. International companies are actively procuring cocoa from Dakshina Kannada, with major producers such as Ivory Coast and Ghana also grappling with supply deficits. Cocoa seeds are utilized in the production of cocoa butter, powder, and chocolates, with exports primarily targeting European countries, which are among the world's largest consumers of chocolate.