Chocolate threatens to become even more expensive. The cocoa price on the wholesale market has risen to the highest level in more than ten years. This is mainly because production in West Africa, which accounts for two-thirds of the global cocoa crop, has been hit by setbacks.
Heavy rainfall and a rot-causing disease, among other things, have destroyed many crops in large cocoa countries such as Ghana and Ivory Coast. Furthermore, the processing of beans, all over the world, has also declined. This also means that manufacturers are currently struggling to get enough cocoa beans.
“We are clearly in a very tight situation,” Paul Joules, cocoa analyst at Rabobank in London, told the financial news agency. Bloomberg. He does not exclude that prices will continue to rise or that chocolate bars may become somewhat smaller.
Manufacturers such as Lindt & Sprüngli and Hershey already warned last week that further price increases of their bars cannot be ruled out. Financial director Martin Hug van Lindt predicted significantly higher rates on the wholesale market in the second half of this year.
He emphasized that the entire industry is affected by this and that more parties are likely to raise their prices. For the consumer, this is a setback. Due to high inflation, many groceries have already gone up in price in recent months.
Free unlimited access to Showbytes? Which can!
Log in or create an account and don’t miss a thing of the stars.
#Chocolate #bar #threatens #expensive #smaller