Cocoa’s biggest annual gain in 15 years sending chocolate prices up
The largest surge in cocoa prices in the past 15 years is having an effect on chocolate prices worldwide.
And consumers are likely to experience an even larger impact when chocolate makers reach the end of their current stocks.
White sugar futures also hit a fifth straight annual high, adding to the inflation in the sweets aisle.
The concentration of cocoa supply leaves little scope for alternative producers to fill the gaps. Around 60% of production comes from just two countries - Ivory Coast and Ghana.
Other countries such as Brazil and Ecuador are looking to expand production, however, it can take several years.
The largest surge in cocoa prices in the past 15 years is having an effect on chocolate prices worldwide.
And consumers are likely to experience an even larger impact when chocolate makers reach the end of their current stocks.
White sugar futures also hit a fifth straight annual high, adding to the inflation in the sweets aisle.
The concentration of cocoa supply leaves little scope for alternative producers to fill the gaps. Around 60% of production comes from just two countries - Ivory Coast and Ghana.
Other countries such as Brazil and Ecuador are looking to expand production, however, it can take several years.
