Prepare your pocket: Easter eggs must have ‘salty’ prices globally; Cacau Show predicts a jump of almost 13%

Cocoa Bean

Brazil

Published Mar 2, 2024

Tridge summary

Cocoa prices are projected to rise in 2024 due to a supply-demand imbalance, largely due to crop failures in Côte d'Ivoire and Ghana, leading to higher prices for Easter eggs and chocolates. Despite the price increase, demand remains robust. In Brazil, cocoa prices have surged by approximately 97% since early 2023, affecting the chocolate industry with a predicted price increase of over 6.7% for the 2024 campaign. However, the use of equipment and productivity measures can help mitigate the full impact of cost increases on consumers, while maintaining product quality and presentation.

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

Consumers can now expect more “painful” prices when purchasing Easter eggs and chocolates in 2024. This is because global prices for cocoa, the main raw material for products, continue to soar on the international market. The main factor that has influenced global prices is the tighter global balance of supply and demand. The year should be the third consecutive year of a deficit in the global balance, in which the world's demand for cocoa exceeds supply. “This is a very rare scenario for the cocoa market, and that is why it generates so much concern. The last time the world saw three consecutive deficits was in 1969. Therefore, with operators anticipating this new deficit this year, global cocoa stocks are also expected to suffer significant declines”, says Leonardo Rossetti, cocoa market analyst at StoneX . The main reason for this drop in supply is due to the crop failure in Côte d'Ivoire and Ghana, the two largest producers of the commodity in the world, which account for 60% ...

Source: BRMoneytimes