Cocoa Prices Soar to €8,000 per Tonne, a Threefold Increase from Last Year
The price of a tonne of cocoa has reached €8,000 (approximately $8,731) today, a staggering three times higher than last year's price. This surge is primarily attributed to poor harvests caused by unfavorable climate conditions in African cocoa-producing countries, particularly Ghana and Côte d'Ivoire. Drought and diseases have had a catastrophic impact on production, resulting in a significant reduction in available cocoa volumes. This situation has led to a sharp increase in prices on international markets.
The high price of cocoa is directly affecting consumers. In supermarkets, chocolate bars, as well as derivative products like cocoa powder, cookies, spreads, and certain pastries, are seeing their prices rise. The cost of raw materials has increased by 30% compared to last year. In Tunisia, a 100g high-quality chocolate bar can cost up to 20 dinars.
Chocolate industry businesses are facing similar price hikes. Some of them are choosing to reduce their profit margins to avoid significantly increasing their prices, hoping to retain customer loyalty. Experts believe that these price increases could persist, affecting the entire ecosystem of cocoa production.
