“Unclose” chocolate eggs at Easter – To the heights of international cocoa prices

As its holidays approach, its high prices mean that buyers pay much more for eggs and chocolate bunnies. As Bloomberg reports, this is only the tip of the iceberg as the highest prices this year at Easter stores reflect the cocoa increases since 2023. Since then, the rally has increased speed and cocoa has already doubled its price, making it a more “hot” commodity in the world. Just over the last three weeks, the wholesale sale of grain in New York has jumped over 47%, surpassing $8,900 a tone – a level that once seemed unthinkable. This means even higher prices for households, as these moves are transferred to retailers. The record rise is due to disappointing crops in the “heavy papers” of the West African cocoa, Côte d’Ivoire and Ghana, which represent most of world production. The industry consists largely of small farmers who face low yields which makes it harder to invest in their estates or to withstand extreme weather phenomena. Price increases are also a reminder that while general inflation rates are declining around the world, increases in individual commodities can still push consumers. In the US, the average price of chocolate eggs increased by 12% in the last year, according to data from the NIQ research firm. The cost of some popular Easter eggs in the UK has been launched up to 50%. These changes represent only a small part of the cocoa giant rally, as the basic ingredients used to make Easter delicacies were probably purchased in the fourth quarter of 2023 or earlier.