Cocoa Price Increasing Faster Than Bitcoin, Stabilization Not Expected Soon
Economy

Global Chocolate Industry Faces Unprecedented Challenges with Rising Cocoa Prices: Belgian Producers Navigate the Storm

The global chocolate market is facing a significant challenge with the steadily increasing price of cocoa, which has reached unprecedented levels in recent months. One ton of cocoa beans now costs over $10,000, due to disappointing harvests and a scarcity of supply caused by weather phenomena like El Niño.

On the New York futures market, a ton of cocoa beans was recently sold for $10,047, an increase of 186 percent from previous months. This surge has surpassed even the growth rate of Bitcoin. Belgian chocolate producers are particularly affected by the high prices as they are the world’s second largest exporter of chocolate. With record prices being set every week, consumers can expect to see an increase in the cost of chocolate in the near future.

To mitigate these effects, some Belgian producers like Libeert have taken steps to control costs by purchasing cocoa at times when prices are low. This ensures a steady supply for peak seasons like Easter and Christmas. Despite these challenges, the Belgian chocolate industry remains a major player in the global market and continues to innovate and adapt to meet consumer demand.

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