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Global cacao shortage leads to record-high cocoa prices

The Guardian — March 29, 2024, 07:00 AM UTC

Summary: A global cacao shortage due to poor harvests in west Africa has led to record-high cocoa prices, exceeding $10,000 a tonne. Chocolate producers warn of price increases and potential reductions in bar sizes. Speculators have bet over $8bn on rising prices. Smallholder farmers in west Africa are struggling due to underinvestment. Researchers are seeking heat-resistant cacao varieties. Chocolate prices are expected to rise further.

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Actionability6.0
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Timeline:

  1. [2.0]
    Cocoa prices may stabilize around $9,000-$10,000/ton; caution ahead (CNBC)
    29d
    Summary:Source
  2. [5.8]
    Cocoa prices surge, impacting Cadbury and Easter sales (The Guardian)
    33d

    ScoresSource
  3. [5.0]
    UK Easter spending surpasses £1bn, driven by chocolate demand (The Guardian)
    34d

    ScoresSource
  4. [5.2]
    Easter egg prices rise due to shrinkflation and ingredient costs (Financial Times)
    36d

    ScoresSource
  5. [5.8]
    Chocolate prices surge due to cocoa price increase and supply challenges (ABC News)
    36d

    ScoresSource
  6. [4.8]
    Cocoa price surge impacts Easter chocolate prices and production (CNN)
    36d
    Summary:Source
  7. [6.2]
    Climate change impacts cocoa supply, raising Easter chocolate prices (The Associated Press)
    37d

    ScoresSource
  8. [5.9]
    Cocoa prices soar above $10,000/ton on poor harvests (Financial Times)
    38d

    ScoresSource
  9. [6.1]
    Cocoa prices surge to record high, supply deficit worsens (CNBC)
    38d

    ScoresSource
  10. [5.9]
    Cocoa futures hit record high due to supply challenges (CNBC)
    38d

    ScoresSource