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How One Commodity Rule Rewrote Global Cocoa Trade
Description
In this episode, Lucas and Luna unpack how the European Union's deforestation regulation, which took full effect in December 2025, is rewriting the global cocoa trade. They focus on Côte d'Ivoire and Ghana, which produce nearly 60 percent of the world's cocoa, and the race to comply with traceability requirements. The hosts discuss the cost of certification, the shift in bargaining power toward large traders like Barry Callebaut and Cargill, and what the rule means for the 6.5 million smallholder farmers who depend on cocoa for their livelihoods. They also explore how this regulation is accelerating the adoption of satellite monitoring and blockchain-based supply chain tracking, and whether it could become a template for other commodities like coffee, palm oil, and rubber. A close look at how a single trade rule is reshaping an entire industry.