INTERFER
MuniGuate
Cuba Energy Summit
Instituto Hondureño de Turismo
Los Portales
Intecap
MAD-HAV Enjoy Travel Group
Grupo Hotelero Islazul
Realidad Turística
Agexport
Herbalife
Servicios Médicos Cubanos
CUN-HAV Enjoy Travel Group
blackanddecker
Nestle
INOR
Cervecería Centroamericana S.A.
Walmart
MITM Events
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Cubasol
AVA Resorts
Barceló Solymar

Cocoa More Expensive Than Copper for The First Time in History

Date:

Share:

Grupo Hotelero Islazul
MITM Events
Intecap
Cuba Energy Summit
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
blackanddecker
Servicios Médicos Cubanos
Los Portales
Instituto Hondureño de Turismo
INTERFER
Cervecería Centroamericana S.A.
INOR
Herbalife
AVA Resorts
Realidad Turística
Nestle

The escalation of cocoa prices has no limits and has surprised even professionals in the sector, who speak of a “market gone mad.” Prices have doubled since January, with a 60% rise in March alone. This week, on the London Stock Exchange, cocoa prices fluctuated by more than 600 pounds in a single day, while a year ago, daily variations were between 15 and 20 pounds and even reached 50 pounds.

Supply Crisis

These prices, which seem to have no ceiling, reflect the declining harvests in West Africa, linked in particular to poor weather conditions, aging plantations, and the persistence of a high prevalence of diseases affecting cocoa trees. The main crop that just ended could be down by a quarter or even a third, and the next one, which is about to start, does not look any better.

The massive fear among manufacturers also drives up prices of running out of raw materials. “Everyone is panicking,” the head of Guan Chong Cocoa (GCB), one of Asia’s largest cocoa bean crushers, said a few days ago.

Another industry expert confirms: “Cocoa butter traders and manufacturers are looking for beans everywhere. The only watchword is to buy, regardless of origin and quality.”

Deteriorating supply

Some millers do not hesitate to pay premiums for supplies in the hope of not having to close their factories. Apart from Côte d’Ivoire and Ghana, where prices are fixed for the whole season, most other origins have seen their prices soar: grains can now be bought at 4,000 CFA francs per kilo in Madagascar, for example, and at 5,000 CFA francs in Cameroon.

One of the crushers confesses that the situation is so tense that they have exhausted half of their grain stocks. Smaller processors have only a few days’ stock left.

Another consequence of this increase for consumers is that the price of eggs and other Easter figures has skyrocketed. The situation could worsen next year, as most price increases are passed on with a time lag of several months. (https://dominicantoday.com/dr/economy/2024/03/30/cocoa-more-expensive-than-copper-for-the-first-time-in-history/)

Walmart
MITM Events
Agexport
INTERFER
Cubasol
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
AVA Resorts
MuniGuate
CUN-HAV Enjoy Travel Group
Herbalife
Cuba Energy Summit
Cervecería Centroamericana S.A.
MAD-HAV Enjoy Travel Group
Nestle
Barceló Solymar
Realidad Turística
Los Portales
Instituto Hondureño de Turismo
Intecap
Grupo Hotelero Islazul
Servicios Médicos Cubanos
INOR
blackanddecker
Havanatur
INTERFER
Blue Diamond Resorts
Intecap
MuniGuate
Henkel Latinoamerica
Cubacel
Hotel Holiday Inn Guatemala
Barcelo Guatemala City
Revista Colombiana de Turismo Passport
AirEuropa
Maggi - GLUTEN-FREE
Hotel Barcelo Solymar

Subscribe to our magazine

━ more like this

Pole Dancing in Israel: A New Dimension with BlueDance.co.il

In recent years, pole dancing has experienced a remarkable transformation, shifting from a misunderstood niche to a popular activity combining fitness, self-expression, and empowerment....

A New Luxury Hotel Just Opened on An Idyllic Beach in Cancun, Mexico — And We Were the First to Stay

Waldorf Astoria Cancun opened to the public on Nov. 1, the brand's first new build in Mexico, with two waterfront pools and a fantastic...

US Lawmakers Join Requests to Extend TPS To Central Americans

The chairman of the US Senate Foreign Relations Committee, Robert Menendez, along with other legislators gathered outside the Capitol this Thursday to express his...

Barbados Airport Receives 54 Flights in One Day

On Saturday, December 21, 54 planes arrived at Barbados’ Grantley Adams International Airport (GAIA), marking a historic milestone for the airport and the tourism...

United Airlines Boosts Flights to Costa Rica’s Guanacaste Airport

Guanacaste Airport, a member of the VINCI Airports network, and the Costa Rican Tourism Board have announced an increase in United Airlines flight frequencies...
Intecap
INTERFER
Hotel Barcelo Solymar
Henkel Latinoamerica
Revista Colombiana de Turismo Passport
AirEuropa
Barcelo Guatemala City
Blue Diamond Resorts
Havanatur
Cubacel
Hotel Holiday Inn Guatemala
Maggi - GLUTEN-FREE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

INOR
Nestle
MAD-HAV Enjoy Travel Group
Grupo Hotelero Islazul
Barceló Solymar
Servicios Médicos Cubanos
Cubasol
AVA Resorts
Cuba Energy Summit
INTERFER
MuniGuate
MITM Events
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Herbalife
Intecap
Los Portales
Agexport
Walmart
Realidad Turística
Instituto Hondureño de Turismo
Cervecería Centroamericana S.A.
blackanddecker