Cocoa prices continue to rise
Cocoa prices have surged due to a supply crisis, with Ghana facing financial difficulties and struggling to secure funds for cocoa cultivation. Prices have risen by 60% in just one month and have more than doubled this year. The high cost of cocoa is expected to impact the price of chocolate, with Easter eggs already becoming more expensive. Speculators have exited the market, and there is a risk that the supply situation may worsen, especially with upcoming EU rules that may make it challenging for chocolate manufacturers to secure supplies. Attention is now on the upcoming mid-crop in West Africa, which is expected to shrink this season.