Over the past year, the price of cocoa has more than tripled, significantly impacting both consumers and small food manufacturers. These companies, which rely heavily on cocoa to produce chocolate, are grappling with unprecedented challenges due to soaring costs.
Historically, the cost of a metric tonne of cocoa hovered around $2,500. However, in April, cocoa prices surged to over $11,000 per metric tonne, driven by concerns about an unexpectedly weak harvest and subsequent supply shortages. Although prices have slightly decreased since April, cocoa remains significantly more expensive than what many food manufacturers are accustomed to paying.
