Dominican cacao exporters have gotten a break. Global demand has sent prices soaring to double what they were a year ago, Diario Libre reports. The unprecedented prices are a boost to Dominican farmers and exporters.
Diario Libre reports that the country’s 48 cocoa exporting companies shipped 61,880 metric tons of cocoa during the 2023-2024 harvest season, which ended on September 30th. These exports generated a substantial US$421.4 million in revenue, representing an 84.9% increase compared to the previous year.
There is concern, nevertheless, that the high prices for conventional cacao could impact the production of organic cacao. Some industry insiders have expressed apprehension that the higher prices for conventional cocoa might incentivize farmers to abandon organic farming practices in favor of more profitable, but less sustainable methods.
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Diario Libre
29 October 2024