In April 2023, one tonne of cocoa beans would cost £2,100. That same amount today would cost £5,800
In April 2023, one tonne of cocoa beans would cost £2,100. That same amount today would cost £5,800Whether it’s Cadbury or Galaxy, Lidl or Lindt, the making of every good chocolate bar starts with the humble cocoa bean – to which sugar, milk and whatever else is added to make a treat millions of us enjoy every week.has tripled in a year, blasting through its all-time price ceiling – and rising. In April 2023, one tonne of cocoa beans would cost $2,665 .
That problem is made even more difficult by where most cocoa is grown. Almost two-thirds of the world’s cocoa is grown in the neighbouring West African countries of Ghana and the Ivory Coast – both of which have been mired in political and economic instability, discouraging investment in cocoa.Making everything even more difficult for growers is a fungal disease that affects cocoa, known as black pod disease.
The insider noted that speculation might continue to contribute to rising prices given that there is no obvious way in the short-term to boost supply of cocoa – leaving the prices for the next few years largely dependent on the weather.Unfortunately for British consumers with a sweet tooth, most of the surge in cocoa prices has yet to show up in the price of a bar on the shelf.
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