The situation could further deteriorate, with experts predicting a third consecutive global cocoa shortage in the making. Rabobank and Marex, a Dutch cooperative bank and financial services platform, warn of a forthcoming decline in West African cocoa production for the 2023-24 season. Marex’s projections reveal a global deficit of 279,000 tonnes of cocoa, surpassing the combined deficits of the past two seasons.

Notably, this rise in chocolate prices has already begun to dampen consumer demand in Europe and Asia, as companies like Hershey Co. and Lindt & Spruengli have observed.

The impending cocoa crisis has several contributing factors. An El Nino weather phenomenon, a global climate influencer originating in the Pacific Ocean, is expected to disrupt wind and rainfall patterns, potentially affecting cocoa crops worldwide. The World Meteorological Organization reports a 55% likelihood of El Nino occurring in the latter half of 2023.

“African cocoa farmers grapple with soaring costs and shortages of essential fertilizers and pesticides. Additionally, the widespread presence of swollen-shoot disease in Cote d’Ivoire poses a severe threat to cocoa harvests, as explained by Steve Wateridge, head of research at Tropical Research Services.”

In May, an Oxfam survey involving over 400 cocoa farmers in Ghana revealed a disheartening trend. Their net incomes had declined by an average of 16%, while major chocolate industry players, including Hershey, Mars, Mondelez, Ferrero, Lindt & Spruengli, and Nestle, had failed to fulfill promises to improve farmer pay. This revelation underscores the challenges faced by those at the heart of the cocoa industry and the potential consequences for the world’s chocolate supply.

President Yoweri Museveni is scheduled to inaugurate this year’s trade fair, and the closing ceremony will feature Peter Mathuki, the Secretary-General of the East African Community.

This week-long trade exhibition will highlight the participation of more than 100 exhibitors, both local and international. Representatives from 30 different countries, including China and South Africa, are set to attend.

Ezra Muhumuza also emphasized that exhibitors have been categorized into small, medium, and large manufacturers, and the entrance fee will be a modest 10,000 Ugandan Shillings. This pricing aims to encourage Ugandans to explore the fair and take advantage of substantial product discounts of up to 60%.

To ensure the safety of all attendees, SSP Gordon Arinaitwe, the Kampala Metropolitan Traffic Commander, has confirmed the deployment of round-the-clock security. Additionally, two designated parking areas, at the Phillip Omondi Stadium and Nakawa KCCA Grounds, will be available for visitors.

The overarching theme of this year’s trade fair is “Driving Manufacturing and Trade Efficiency through Digital Transformation and Innovation.”