https://lnkd.in/gM_iVz_W LONDON/ACCRA, March 13 (Reuters) - Major African cocoa plants in Ivory Coast and Ghana have stopped or cut processing because they cannot afford to buy beans, four trading sources said, meaning chocolate prices around the world are likely to soar.Chocolate-makers have already increased prices to consumers, after three years of poor cocoa harvests, with a fourth expected, in the two countries that produce nearly 60% of the world's cocoa.
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Cocoa is now more expensive than copper. Cocoa extended its surge—gaining more than $700 per ton in a single day and surpassing $9,000 for the first time ever—as a supply crunch grips the market and chocolate makers grapple for beans. Futures in New York climbed for a fourth straight day, adding to gains after news about funding challenges in Ghana, the world’s second-largest grower. Bloomberg leaving out a key piece e of information behind Cocoa's rise: the number of armed conflicts and displaced people in countries where Cocoa is one of the number one exports. Madness drives markets. https://lnkd.in/giTagrrh
Exclusive: African cocoa plants run out of beans as global chocolate crisis deepens
reuters.com
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COCOA back up over the $10,000 / mt mark again! Ivory Coast, the largest producer of cocoa beans has halted bean exports for June and forward sales next season as it awaits further clarity on expected production. Ghana, the second largest producer is also looking to delays delivery of around 350,000 tons of product next season due to poor yields and crops. With production being around 30% less y/y there is no solution for multinationals of how to make up for the lost supply - there just isn't a magic pill for these things. It's a very up in the air time for cocoa farmers, cocoa producers, and chocolate manufacturers with so much uncertainty of what will take place and how future crops & yields will rebound. All that is certain is that the is a major supply crisis in the chocolate industry! #cocoa #cocoabeans #chocolate #commodities #marketupdate
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While the price of dry cocoa beans rose by more than 200% from Rs 325/kg in January to Rs 1,020/kg last week, the price of wet beans increased from Rs 85/kg to nearly Rs 400/kg, a whopping rise of 375% in four months. The sharp increase in international cocoa prices is attributed to a collapse in production in west African countries, like Ivory Coast and Ghana, which account for 60% of global production. https://lnkd.in/gMD3BPJ8
Cocoa price crosses Rs 1K-mark in Kerala, farmers wait & watch
newindianexpress.com
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Cocoa Bean Quality – A Guide for Buyers 🌍 Quality Matters in Cocoa Trading Understanding cocoa bean grades is essential for producing premium chocolate and cocoa products. 1. Full Fermentation: Brown, hollow texture – fully fermented for premium quality. 2. Partial Purple: Mix of purple and brown – result of imperfect fermentation. 3. Full Purple: Entirely purple – short fermentation (less than 1 week). 4. Slaty: Purple and grey – incomplete fermentation (less than 3 days). 5. Moldy: Brown with fungus – caused by improper fermentation, unsuitable for use. 📦 We supply top-grade, fully fermented cocoa beans to meet international standards. We Source - Ivory Coast, Ghana, Nigeria. 📩 Connect with us for inquiries and bulk orders! Let’s build long-term partnerships! #CocoaBeans #InternationalTrade #PremiumQuality #GlobalSupplyChain #ChocolateIndustry #Cocoapowder #Import #Export #Shipping #Chocolate #Darkchocolate #Demandandsupply #Specifications #Quality #Marketanalysis #Agriculture
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🍫🌍 Brace yourselves, chocolate lovers! 🚨 The latest news from major African cocoa plants in Ivory Coast and Ghana paints a concerning picture. Due to financial constraints, several plants have halted or reduced processing, leading to a potential shortage of cocoa beans. According to Reuters, this could spell trouble for chocolate prices worldwide, as chocolate-makers grapple with increased production costs. 📈🍫 With cocoa prices already doubling over the past year and harvests continuing to disappoint, the future of chocolate affordability hangs in the balance. As Tropical Research Services' Steve Wateridge warns, "massive demand destruction" may be necessary to align with the ongoing supply challenges. 💔🌱 This means we could see even steeper price hikes and limited availability in the near future. So, savor those chocolate treats while you can, and keep an eye on this developing situation! 🍫💰 #CocoaCrisis #ChocolateShortage #SupplyChainWoes #ChocolateLoversUnite 🌍🍫
Exclusive: African cocoa plants run out of beans as global chocolate crisis deepens
reuters.com
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🍫🌍 Brace yourselves, chocolate lovers! 🚨 The latest news from major African cocoa plants in Ivory Coast and Ghana paints a concerning picture. 🌱 Due to financial constraints, several plants have halted or reduced processing, leading to a potential shortage of cocoa beans. According to Reuters, this could spell trouble for chocolate prices worldwide, as chocolate-makers grapple with increased production costs. 📈🍫 With cocoa prices already doubling over the past year and harvests continuing to disappoint, the future of chocolate affordability hangs in the balance. As Tropical Research Services' Steve Wateridge warns, "massive demand destruction" may be necessary to align with the ongoing supply challenges. 💔 🌱 This means we could see even steeper price hikes and limited availability in the near future. So, savor those chocolate treats while you can, and keep an eye on this developing situation! 🍫💰 #CocoaCrisis #ChocolateShortage #SupplyChainWoes #ChocolateLoversUnite 🌍🍫
Exclusive: African cocoa plants run out of beans as global chocolate crisis deepens
reuters.com
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The price of cocoa, one of the raw ingredients of chocolate has skyrocketed since the start of the year with this week prices hitting all-time highs of more than $10,000 a tonne for the first time. Ghana and Cote d'Ivoire in West Africa produce more than half of the world's cocoa with smallholder farmers the bedrock of the industry, but they still don't receive a fair price for their beans. It's estimated farmers receive just 6-7% a chocolate product. Quoted in The Guardian, Mighty Earth's Senior Adviser for Africa, Amourlaye Touré says the price hike won't benefit farmers: “Cocoa prices have reached record levels on the international market. Paradoxically, this does not mean higher incomes for producers. The record cocoa prices will benefit the cocoa-producing countries themselves little, as the raw material is transformed into a finished product after being exported.” Read the article by Patrick Greenfield in full⬇️ https://lnkd.in/dcm9fVVP
Extortionate Easter eggs and shrinking sweets: fears grow of a ‘chocolate meltdown’
theguardian.com
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Since the end of January 2024, cocoa bean prices have been on a sharp upward trend. As of today, Friday, April 19, 2024, ICCO (International Cocoa Organization) reports the price at USD 10.966,97/Ton, translating to USD 10,96/Kg. Several factors are driving this surge in cocoa bean prices. Natural factors like El Nino have caused drought in West Africa, leading to a significant decline in cocoa bean production in Ivory Coast and Ghana, two of the world’s largest producers. Additionally, the increasingly uncontrolled spread of cocoa plant diseases has further hampered production, resulting in a shortage of supply for the industry. Stay tuned to the Sagococoa blog for further updates on the cocoa market Sagococoa, a leading supplier of cocoa products, is dedicated to supporting our customers navigate this evolving market landscape. Our Products Sagococoa offers a wide range of cocoa products to meet the diverse needs of our customers: 1. Cocoa Powder 2. Cocoa Butter 3. Cocoa Mass Contact Us We are committed to providing our customers with exceptional service and support. Please contact us today to learn more about our products and how we can help you achieve your business goals. Website: www.sagococoa.com Email: [email protected] WhatsApp: +6285323440193 & +6282269905245 Join Us in Making a Difference #cocoaprices #industrychallenges #chocolateopportunities #premiumcocoa #sustainablecocoa #reliablesupply #cocoapowder #cocoabutter #cocoamass #empoweringfarmers #sustainableagriculture #longtermpartnership #sagococoa #cocoabusiness #cocoacompany #indonesiacocoa #chocolateindustry #foodindustry
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💰Who benefits from the crazy surge in cocoa prices? Part I The surge in cocoa prices on the financial markets is sending shivers through the entire sector, but is benefiting cocoa growers, bean processors, speculators and chocolate makers to varying degrees. Prices exploded to more $10,000 a tonne in New York in March after a poor harvest in West Africa, due to a combination of unfavourable weather conditions and devastating diseases in ageing plantations. They have since fallen back but remain three times higher than last year. In Ivory Coast and Ghana, the world's largest #cocoa producers, prices are set by the authorities in October "on the basis of prices from previous months", but the harvests "are already largely pre-sold", explains Tancrède Voituriez, from the Centre for International Cooperation in Agricultural Research for Development (CIRAD). This reduces the impact of price fluctuations -both upwards and downwards. Small producers, who usually barely earn enough to live on, therefore did not immediately benefit from the surge. The authorities nevertheless raised the price of the intermediate harvest by 50% in April, to between 2,300 and 2,500 dollars per tonne paid to the producer. In other countries where the system is liberalized, such as Cameroon, Nigeria, Ecuador or Brazil, producers have benefited more, selling their beans to buyers willing to approach financial market prices. But beware of the backlash. "The surge in prices has made this production more attractive," David Gonzales, coordinator of the Peruvian Chamber of Coffee and Cocoa, told AFP. At the risk of an excess supply within 3 to 5 years, the time for new trees to grow, and a sudden drop in prices. The big processors that grind the beans into butter, liquor or powder (Swiss Barry Callebaut, American Cargill, Singaporean Olam) have generally negotiated a large part of their supply in advance. But some contracts have been honored, forcing them to find beans urgently at a high price, and sometimes to slow down their factories. #BarryCallebaut said in early April that it had drawn more than usual on its #cash reserves to finance its purchases but had enough #cocoa available to meet demand. Other smaller intermediaries may struggle to advance the funds needed to adapt to the new environment. "Smugglers can probably rub their hands" by buying slightly above fixed prices in Ivory Coast and #Ghana and reselling at market prices from Togo, Guinea, Liberia or Sierra Leone, notes Steve Wateridge of Tropical Research Services. Trading houses and #chocolate makers, for their part, usually protect themselves from price reversals by betting on the opposite trend on the #financial markets, in this case by betting on a fall. Some have had to, with the surge, deposit additional #funds with their bankers to cover their potential losses. https://lnkd.in/eZYQ85ag #TradeInAfrica #Markets #GDP #TradeUnderAfCFTA
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Expect #shrinkflation to take away from the size of your #Easter eggs 🥚 🍫. The price of #cocoa is near all-time highs ($5,500/ton) due to "bad weather conditions hammer crop yields in West Africa, home to three-quarters of the world’s production." Takeaways: (1) Ivorian cocoa output is said to have decreased by 20% and could go another 5% lower, according to the nation's Agriculture Minister. (2) Although bad weather has not impacted Peruvian cocoa, its price has increased from 7 to 21soles/kg. (3) Peruvian cocoa is the center of biodiversity for the bean and the world's organic and #fairtrade production. Smaller chocolate eggs for consumers and hard times for Ivorian and Ghana producers are occurring simultaneously with increased profit potential for organic and fair trade cocoa triples. This increase in profits could lead to a larger future market share for Peruvian farms if that short-term increase in funding is put into infrastructure and #farmtech. -GSP- #4thindustrialrevolution #farming
Chocolate Easter egg prices set to rise as cost of cocoa surges
uk.finance.yahoo.com
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