Nestle in the context of "Stouffer Corporation"

Ivory Coast (Côte d'Ivoire) leads the world in the production and export of the cocoa beans used in the manufacture of chocolate. As of 2024, the country produced 45% of the world’s cocoa.

West Africa collectively supplies two-thirds of the world's cocoa crop, with Ivory Coast leading production at 1.8 million tonnes as of 2017, and nearby Ghana, Nigeria, Cameroon, and Togo producing an additional 1.55 million tonnes. Ivory Coast overtook Ghana as the world's leading producer of cocoa beans in 1978, and is today highly dependent on the crop, which accounts for 40% of national export income. The primary non-African competitor of Ivory Coast is Indonesia, which went from having an almost nonexistent domestic cocoa industry in the 1970s to becoming one of the largest producers in the market by the early 2000s. According to the Food and Agriculture Organization of the United Nations, Indonesia overtook Ghana and became the second-largest producer worldwide in 2006. The World Cocoa Foundation provides significantly lower figures for Indonesia, but concurs that it is the largest producer of cocoa beans outside of West Africa. Large chocolate producers such as Cadbury, Hershey's, and Nestle buy Ivorian cocoa futures and options through Euronext, whereby world prices are set.