In many ways, the past year has forced reflection across the sector. Towards the end of 2023, cocoa prices were already rising linked to supply shortages – a trend that has intensified significantly in the first part of 2024. While increased prices are a good thing for cocoa farmers, the bad harvests in West Africa coupled with higher costs of living and of production actually exacerbate farmer vulnerabilities in the short term, highlighting the need to redouble efforts to support cocoa farming families. At the same time, discussions around mandatory human rights due diligence have evolved significantly in many jurisdictions, particularly the European Union, and scrutiny on agricultural supply chains has never been higher. For us, these reflections only reinforce the relevance of our three strategic objectives, responsible cocoa supply chains, a supportive enabling environment and coordinated approaches to tackle child labour and forced labour in cocoa.