Global: The high increase in the price of cocoa begins to affect chocolate products

Published 2024년 4월 8일

Tridge summary

The price of cocoa has experienced a significant surge of 230% over the past year, reaching a record $10,000 per ton due to adverse weather conditions in West Africa, particularly in Côte d'Ivoire and Ghana, and the EU's ban on imports from deforested land. This spike in cocoa prices, along with the general increase in food prices, is expected to drive up the cost of chocolate and cocoa-containing products. Although products like Cola Cao, chocolate Donettes, Oreo cookies, and Nestlé milk chocolate bars have seen price increases of 6% to 14% in the last six months, these are in line with other food items, suggesting manufacturers may have initially absorbed some costs through pre-purchased stocks or fixed-price contracts. However, as these measures run out, further price hikes for cocoa products are anticipated, potentially pushing manufacturers to find new ways to keep prices competitive.

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

Original content

The price of cocoa is rising sharply in international markets and it is feared that chocolate bars will begin to be priced at the price of gold bullion, has warned the Organization of Consumers and Users (OCU), which has tracked prices. of some products that contain cocoa which reveals that, for the moment, increases are observed but limited. Cocoa production in West Africa has been poor due to a combination of drought and torrential rains, especially in Côte d'Ivoire and Ghana, two of the largest producers. With all this, the price of cocoa has risen 230% in the last 12 months to reach $10,000 per ton, a price never seen before. In addition, the European Union has banned the import of food that has been produced on deforested land. This increase is combined with the general increase in food prices, which have especially affected sugar and flour, so it is likely that chocolate, chocolates and other pastry products will rise in price, says the OCU. The chocolate bar rises 11% The ...

Source: Financialfood