The small, dark godown abutting M Dharmambigai’s large home with a larger courtyard in Kottur, a village 15 km to the south of Pollachi town in Tamil Nadu, has never housed stock so precious.
The value of gunny bags of cocoa beans stacked unevenly, without a great deal of care, is currently more than Rs 12 lakh and almost guaranteed to go up to Rs 15 lakh soon.
The lottery of climate change is such that the misery of farmers in one country is an opportunity to make windfall gains for others in a different continent.
The price of cocoa beans, the primary raw material for chocolate, has more than tripled in the last year. In March 2024 alone, it rose from $7100 a ton to $10455. In fact, chocolate prices now trade higher than industrial metals such as copper.
Can Indian cocoa farmers like her take advantage of rising global cocoa prices?
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