Italian climate crisis also presents the bill with the Easter egg

Published Mar 26, 2024

Tridge summary

Cocoa prices have soared to a record high, with the cost of a ton surpassing $10,000, more than doubling since the year's start. This price hike is largely due to decreased production in key cocoa-producing nations like Ivory Coast and Ghana, a consequence of extreme weather conditions associated with climate change. This has led to a significant 25% increase in the price of Easter chocolate eggs over the past five years. While retailers might initially shield consumers from these hikes using previously purchased cocoa reserves, the escalating costs are likely to be eventually transferred to consumers. This could result in reduced purchases or a shift to alternative products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

We missed the expensive cocoa. Moreover, as the most "chocolate" holiday of the year approaches. Just today, cocoa prices reached a historic record, a ton exchanges for over 10 thousand dollars, which has never happened before. Not that it's a bolt from the blue, cocoa prices have more than doubled since the beginning of the year due to a drop of production in some countries, obviously having an impact on chocolate prices. The surge in prices is due in particular to the scarcity of crops in the main producing countries, namely Ivory Coast and Ghana, mainly due to extreme weather events favored by climate change. Over the last 5 years the average price of Easter chocolate eggs has risen on average by around 25%. Read Also Absolute poverty on the rise in 2023: 5.7 million people affected. Poverty explodes among employees Large retailers can graduate retail increases if they have cocoa reserves purchased at lower ...

Source: Ilfattoquotidiano