Who dies for chocolates? Maybe you will be forced to give up after a while
Global cocoa prices have risen to a record high this week as poor weather conditions affect crops in West Africa.
Cocoa prices on the Intercontinental Exchange (ICE) in New York hit a new record high of $5,874 a tonne on Thursday, closing up 7.3% at $5,805.
The cost of the main ingredient to make chocolate has almost doubled since the beginning of last year.
What does this mean?
This means that the price of chocolates will increase, their purchase will therefore decrease.
This is not good news either for chocolate lovers or for manufacturers and traders.
Cocoa crops are very sensitive to weather changes.
About 70% of the world's cocoa comes from West Africa, so the product is very sensitive to price fluctuations due to the weather. Another problem, of course, besides the price, is the lack of production. Less cocoa, less production, with a lot of shortage in the market and higher price. This is the domino effect of inclement weather.