Chocolate in Russia will rise in price by 30% this year

Chocolate

Russia

Market & Price Trends

Published Feb 8, 2024

Tridge summary

Due to a 36% decrease in the cocoa bean harvest in major regions, cocoa prices on world exchanges have risen, leading to a potential 30% increase in dark chocolate prices in Russia. The country's cocoa processing has also dropped to 0.3% of global production. Meanwhile, milk chocolate prices are predicted to rise by a lesser margin of 20%, attributed to its lower cocoa butter content.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Prices for dark chocolate in Russia may soon increase by 30 percent due to the situation with cocoa beans. This is stated in a message from the Mash Telegram channel with reference to the largest supplier of the above-mentioned raw materials for this product from plantations in West Africa, Europe and South America. There were several reasons for the price increase. First of all, this is the increase in the cost of various types of cocoa on world exchanges. In particular, for cocoa powder it increased on average to 4,330, grated solid product - 6,845, and natural cocoa butter - 9,750 euros per ton. This is a record price increase over the past 47 years. The situation was primarily affected, of course, by the continuing reduction in the bean harvest in the largest regions of presence, which already amounted to 36 percent. Let us recall that the day before the International Cocoa Organization (ICCO) already reported a problem with the collection of raw materials and its rise in ...

Source: Rosng