World prices for chocolate and cocoa will continue to rise

Published 2024년 4월 1일

Tridge summary

World cocoa prices have soared to a new multi-year high, surpassing $10,000 per ton, marking a 2.4-fold increase since the year's start. This price surge is primarily due to abnormal weather conditions in West Africa, notably in Ghana and Côte d’Ivoire, which have led to waterlogged fields, the spread of disease, and increased tree mortality. The situation is worsened by economic difficulties and insufficient government support in these regions, hindering effective disease management and land improvement efforts. Additionally, conflict in the Red Sea involving Yemeni rebels has disrupted traditional cocoa export routes, contributing to the rising costs. Consequently, chocolate products, particularly dark chocolate, are expected to see a significant price increase, with some manufacturers already reducing the chocolate content in their offerings.

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

Original content

World prices for cocoa, as well as chocolate and other products made from it, will continue to rise in the near future, Octagon reports citing Sky News. Let us recall that last week exchange prices for cocoa beans reached a new multi-year record of more than 10 thousand dollars per ton. This is also 2.4 times more than since the beginning of this year. Profinance previously reported that on the London and New York exchanges, quotes for the product in terms of American currency fluctuate from $9,500 to $10,000 per ton. As Octagon predicts, the price of dark chocolate will rise the most, by 60 percent. It is also noted that its cost has been increasing since 2021. Products containing chocolate in the form of not only filling, but also additives and even glaze should also increase in price. For example, this is chocolate spread, baked goods and other confectionery products containing it, yoghurts and ice cream, glazed cheeses and even chocolate-coated fruits and nuts and breakfast ...

Source: Rosng