Cocoa is three times as expensive as it was a year ago. The price of raw cocoa has shot up sharply in recent months. On the cocoa exchange in New York, a ton of cocoa beans currently costs 7,400 dollars (around 6,920 euros); in March it was temporarily over 10,000 dollars. The reason is a very poor harvest in the two main growing countries, the Ivory Coast and Ghana in West Africa.
- Also read: Climate change hits olive oil production: prices rise sharply
However, there is a long time between the cocoa harvest in Ghana, for example, and the delivery of a chocolate bar in stores. The large manufacturers of products containing cocoa usually have long-term contracts with fixed prices. Nestlé CEO Ulf Schneider, for example, said in April that his company was therefore “largely protected for the rest of the year”. In addition, the share of raw cocoa price in most products is relatively low.
“}”>
Image: colourbox.de
Source: Nachrichten
