Germany: BDSI raises fears over rapid cocoa price rises impacting the markets

The German confectionery trade body, BDSI, has expressed fears over the rapidly accelerating price of cocoa, which is impacting on stock availability for chocolate manufacturers in the country and across Europe, writes Neill Barston. As Confectionery Production reported earlier this week, stock market prices in New York reached fresh highs of $6,500 a tonne, owing to a combination of factors including poor harvests, crop disease, and supply deficits in major producer nations of Ghana and Ivory Coast, which account for two thirds of the industry. In addition, there have also been localised reports of cocoa smuggling impacting the market, as traders attempt to seek a higher price for limited cocoa resources in neighbouring West African nations, which has caused considerable concern by regional authorities. For its part, the BDSI has also highlighted other recent major challenges for the sector including a significant upturn in energy and wider ingredients costs, including a ...