COTW: Cocoa Prices

April 2, 2024COTW: Cocoa Prices

  • Cocoa prices have risen more than 140% this year. The recent uptick in cocoa prices is the result of disruptions affecting both supply and demand. Extreme weather events, wildfires, and the impact of the cacao swollen shoot virus have drastically cut down the supply of cocoa. Meanwhile, robust demand in nations such as the U.S. has enabled manufacturers to transfer the increased costs to consumers.
  • The future seems challenging for chocolate prices, with expectations for cocoa prices to remain high until the arrival of a new crop from Africa in late 2024. This scenario is expected to lead to further increases in the prices of chocolate products over the year, affecting sales volume and possibly hampering growth in this category. Chocolate makers are seeking alternative solutions and cost-saving strategies to lessen the effects of rising cocoa prices. Some are even considering broadening their product ranges to lessen their reliance on cocoa.


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