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Chocolate prices surge due to cocoa price increase and supply challenges

ABC News — March 28, 2024, 10:00 PM UTC

Summary: Chocolate prices have surged due to a 200% increase in cocoa prices over the past year. Australian chocolate prices rose by 8.8%, more than double the general inflation rate. Cocoa supply challenges in West Africa, including disease and drought, have led to a forecasted dire production year. Experts predict continued high chocolate prices, with potential product changes to offset costs. Sustainability concerns in cocoa production pose complex challenges.

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Potential8.0
Novelty6.0
Actionability6.5
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Credibility9.0

Timeline:

  1. [2.0]
    Cocoa prices may stabilize around $9,000-$10,000/ton; caution ahead (CNBC)
    40d
    Source
  2. [5.8]
    Cocoa prices surge, impacting Cadbury and Easter sales (The Guardian)
    44d

    ScoresSource
  3. [5.0]
    UK Easter spending surpasses £1bn, driven by chocolate demand (The Guardian)
    44d
    Source
  4. [6.5]
    Global cacao shortage leads to record-high cocoa prices (The Guardian)
    46d

    ScoresSource
  5. [5.2]
    Easter egg prices rise due to shrinkflation and ingredient costs (Financial Times)
    46d
    Source
  6. [4.8]
    Cocoa price surge impacts Easter chocolate prices and production (CNN)
    47d
    Source
  7. [6.2]
    Climate change impacts cocoa supply, raising Easter chocolate prices (The Associated Press)
    47d

    ScoresSource
  8. [5.9]
    Cocoa prices soar above $10,000/ton on poor harvests (Financial Times)
    49d

    ScoresSource
  9. [6.1]
    Cocoa prices surge to record high, supply deficit worsens (CNBC)
    49d

    ScoresSource
  10. [5.9]
    Cocoa futures hit record high due to supply challenges (CNBC)
    49d

    ScoresSource