http://money.cnn.com/2013/10/14/news/chocolate-prices-cocoa/index.html?source=cnn_bin
The price of cocoa butter stands at a four-year high, having risen by 70% over the past 12 months. A director at the International Cocoa Organization, Laurent Pipitone, say that the industry usually either increase the price, reduce the cocoa content or reduce the size of their products. Those who crave high-end dark chocolate that have a higher cocoa contents are likely to be hit the hardest. Demand in Latin America, the Middle East and Africa is expanding at an even faster pace,and as demand rises, cocoa shortages due to bad weather in major producing countries such as the Ivory Coast, Ghana and Indonesia, are squeezing suppliers.
I was wondering why when I go and get Nutella at the store why its sooooooo expensive. I LOVE chocolate and Nutella especially. I just hope the weather gets better so that I can enjoy my chocolate in peace without my money being gone.
So this explains why the chocolate bars look smaller and smaller every time I go to the store !
ReplyDeleteI actually think that it's good cocoa prices are rising. Little known to most people, cocoa farming is greatly involved in human trafficking, and most places that manufacture it, like the Ivory Coast and Ghana, are infamous for paying extremely low wages to their workers (who are often children). The demand for cocoa is rising because it's so affordable, but every time we buy common chocolate bars, there are so many impoverished people who are suffering for us. Maybe this rise in price will give us more awareness and prepare us for the time when we should pay a bit more to help someone else out.
ReplyDeleteI feel this shortage could not have come at a worse time, other than Valentines Day, of course. It is only about two weeks till Halloween, probably the most chocolate eating day of the year. I am sure that half of the houses this year will switch to fruity or minty candy just to get away from paying more for the basics.
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