Reasons why chocolate prices could rise

Reasons why chocolate prices could rise

The price of cocoa, the raw material for chocolate, reached its highest level in 47 years on international markets.

This was due to a severe shortage of supply, caused by difficulties in the main cocoa-producing regions of Ghana and Ivory Coast.

In New York, cocoa exceeded $6,000 per tonne, while in London, the price of cocoa, which was already very high, reached a new all-time high of £4,786 per tonne.

According to analysts, this situation could weigh heavily on the purse of chocolate consumers, as manufacturers plan to increase the prices of their products in order to cover the higher costs of raw materials.

Another possible solution is to modify product formulations to use less cocoa.

In these circumstances, cocoa deserves its nickname of “brown gold”.

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