Cocoa stocks hit record low, shortage threatens chocolate producers

Cocoa stocks in London and New York have fallen to their lowest levels in recent years, exacerbating problems for chocolate producers. Due to poor harvests for several years, the market has been experiencing a serious shortage, forcing companies to look for alternative ingredients or change recipes. This is reported by The Financial Times. On the London Intercontinental Exchange, stocks of usable cocoa have fallen from more than 100,000 tons to about 21,000 tons over the year. In New York, the situation is also critical – total reserves are about 90 thousand tons, which is a record low for this time of year. It is noted that chocolate prices have increased by 20% compared to last year. The main cocoa-producing countries – Côte d’Ivoire and Ghana – continue to suffer from adverse weather conditions and the spread of diseases, which further aggravates the situation. Over the past three years, harvests have remained scarce, and cocoa prices in London have reached their highest ...