Higher global chocolate prices are part of a wider trend as climate and other factors disrupt the supply

Published 2024년 3월 25일

Tridge summary

The article highlights the challenges facing the global cocoa industry, with a focus on the recent surge in chocolate prices due to poor cocoa crops in West Africa, a situation exacerbated by climate change, disease, and deforestation for cocoa farming. This is part of a broader trend of disruptions in the global food supply chain affecting various commodities, made more acute by the concentration of cocoa production in a few regions. The piece also delves into the economic and ethical considerations of cocoa pricing and production, noting that higher market prices do not necessarily benefit smallholder farmers due to government policies and contracts with large companies. It calls for consumer awareness towards ethically sourced chocolate and the importance of supporting sustainable cocoa farming practices, while also highlighting the financial challenges of implementing such practices for farmers.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Higher chocolate prices this Easter after bad crops on the other side of the world are just the latest example of disruptions in the food supply chain, a trend experts say consumers are noticing in growing numbers. “I think people are becoming more interested in where their food comes from,” said Sophia Carodenuto, a professor of geography at the University of Victoria whose research specializes in global food systems. The past few years have seen a number of high-profile disruptions including a spike in lettuce prices due to flooding in California, rising orange juice prices because of bad crops and higher wheat prices linked to the Russia-Ukraine war. These kinds of disruptive events feel like they’re becoming more common, said Graeme Crosbie, senior economist at agriculture lending firm Farm Credit Canada. Cocoa futures have “gone vertical” this year, especially in the last four or so months, said Crosbie. Futures are a way of measuring commodity prices based on contracts for ...

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