The price of cocoa has quadrupled so far this year and has reached its historic maximum of more than $10,000 per tonne. Will we be able to continue eating chocolate in the future or will it become an unattainable luxury?
IF | EITB MEDIUM
Bad news is coming for chocolate lovers. The price of one of the world’s most beloved sweets is skyrocketing. There has been one so far this year 135% increasewhich translates into an increase of one to two euros in chocolate bars.
Drought and pests have reduced production on plantations by as much as 35% Ghana and Ivory Coastthe most important cocoa producers in the world. The fear of shortages has led to its price triples in the past year and reached its historical maximum, $10,000 per ton of cocoa. Twelve months earlier, the price was $2,900 (2,672 euros).
This situation has consequences for the chocolate industrywhich has seen its price rise 174% compared to Easter 2023 and this situation has some clear victims, those with a sweet tooth, who will see the price of chocolate skyrocket to levels never seen before, also driven by the rise in sugar, the other main ingredient of chocolate, which is 16% has become more expensive in the past two years
Everything indicates that the increase will continue in the coming months supply will remain scarce because the next harvest does not occur until October and it takes five years for new trees to mature.
Ultimately, the The high chocolate prices will continue and many chocolate companies have already started looking for new alternatives for their products, such as replacing your filling with cheaper alternatives.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
