Posted 3/26/2024, 1:45:41 PM
Cocoa Shortages Lead to Sharpest Rise in 20 Years for German Cocoa Bean Prices, Warning of Higher Chocolate Prices
- Import prices for cocoa beans in Germany rose 73.4% in January 2024 vs. the previous year, the sharpest increase in 20 years
- Price increases expected to lead to higher chocolate prices for consumers
- Lindt & Sprüngli warned of rising chocolate prices in 2024-2025 due to high cocoa bean costs
- Failed cocoa harvests, particularly in West Africa, contributing to cocoa shortages and price increases
- Ivory Coast is Germany's main source of cocoa bean imports
