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Climate change impacts cocoa supply, raising Easter chocolate prices

The Associated Press — March 28, 2024, 10:00 AM UTC

Summary: Global cocoa supplies are dwindling due to climate change, impacting Easter chocolate prices. Cocoa futures doubled to over $10,000/ton in New York. Major confectionery companies like Hershey and Mondelez raised prices, with profits increasing. Farmers in West Africa struggle with lower yields. Authorities promote farming education to combat climate effects. Despite rising prices, Easter candy spending is expected to reach $3.1 billion. Smaller chocolate businesses face challenges.

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Article metrics
Significance6.2
Scale7.0
Magnitude7.5
Potential8.0
Novelty6.0
Actionability6.5
Immediacy8.5
Positivity4.0
Credibility9.5

Timeline:

  1. [2.0]
    Cocoa prices may stabilize around $9,000-$10,000/ton; caution ahead (CNBC)
    24d
    Summary:Source
  2. [5.8]
    Cocoa prices surge, impacting Cadbury and Easter sales (The Guardian)
    28d

    ScoresSource
  3. [5.0]
    UK Easter spending surpasses £1bn, driven by chocolate demand (The Guardian)
    28d

    ScoresSource
  4. [6.5]
    Global cacao shortage leads to record-high cocoa prices (The Guardian)
    30d

    ScoresSource
  5. [5.2]
    Easter egg prices rise due to shrinkflation and ingredient costs (Financial Times)
    30d

    ScoresSource
  6. [5.8]
    Chocolate prices surge due to cocoa price increase and supply challenges (ABC News)
    31d

    ScoresSource
  7. [4.8]
    Cocoa price surge impacts Easter chocolate prices and production (CNN)
    31d
    Summary:Source
  8. [5.9]
    Cocoa prices soar above $10,000/ton on poor harvests (Financial Times)
    33d

    ScoresSource
  9. [6.1]
    Cocoa prices surge to record high, supply deficit worsens (CNBC)
    33d

    ScoresSource
  10. [5.9]
    Cocoa futures hit record high due to supply challenges (CNBC)
    33d

    ScoresSource