World: The perfect cocoa storm threatens to bitter chocolate consumption

Published 2024년 3월 5일

Tridge summary

The price of cocoa has tripled over the past 18 months, hitting $6,000 per ton due to a shortage crisis in West Africa, primarily caused by drought and extreme weather in Ghana and Ivory Coast, the two largest producers. Other factors include crop diseases, farmers abandoning cocoa, increased operating costs, and rising demand in countries like India and China. This could limit the global cocoa supply for years, leading to potential product changes. Rabobank analyst, Paul Joules, suggests that the peak of price increases, especially in the EU, is yet to come, and companies like Lindt & Sprüngli and Hershey may pass these costs onto consumers.

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

Original content

In the last year and a half, cocoa has tripled its price per ton, going from 2,000 to 6,000 dollars and shattering the historical highs recorded in 1977. Then, almost 50 years ago, the main marketers were forced to make their chocolates more expensive. markedly, due to a shortage crisis that affected the main producing countries in West Africa. On March 1, the market closed with a ton of cocoa at a price of 6,299 dollars and alarm voices have been raised from different sources: experts from media such as Bloomberg or Euronews are already talking about a new "cocoa crisis", which is beginning to manifest its effects, and prominent companies in the food industry, such as the English company Henley Bridge, have also shown their concern about this unprecedented price evolution in international markets. The focus is on the drought and other extreme weather phenomena suffered by the two largest producers, Ghana and Ivory Coast, with a combined share of more than 60% and far behind ...

Source: Food Retail