The sharp rise in cocoa prices will also hit confectionery on the Christmas table. Why are prices soaring?
December 18, 2024
You've probably noticed that chocolate is getting more expensive. That's because the price of cocoa, the main ingredient in chocolate products, is currently at a record high. According to the International Cocoa Organisation (ICCO), the current 2023/2024 season is expected to see the highest deficit of the crop in 60 years - almost 478,000 tonnes. This is logically pushing prices upwards, with the price on the exchanges climbing to more than $11,000 per tonne in the last few weeks alone, the highest level since April.
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