Another Weak Cocoa Crop in West Africa Will Keep Prices High

Much of West Africa, home to the world’s top cocoa producers, is heading into another disappointing harvest. Despite better weather than in previous seasons, structural problems — such as aging trees and crop diseases — may continue to limit output and keep prices high.

Ivory Coast, the biggest producer, is projected to collect 1.4 million tons during the main crop harvest between October and March, according to an average estimate from eight traders and analysts surveyed by Bloomberg. That’s about in line with the expected total for this season’s main crop, people familiar with the figures said.