Chocolate prices to keep rising as West Africa s cocoa crisis deepens
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Chocolate prices keeps rising as West Africa s cocoa crisis deepens – The New Nation
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It s a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits
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With exports from the Ivory Coast, the world s top producer, down by a third in recent months, the global price of cocoa has risen sharply. Cocoa futures have already doubled this year, trading at a record high of more than $10,000 per metric ton in New York on Tuesday after rising more than 60% the previous year. Farmers who harvest cacao beans say the increases aren t enough to cover their lower yields and higher production costs.