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London and New York The cost of cocoa has reached a record high, and the price keeps climbing. How is industry reacting and what does this mean for the future of this highly sought after commodity?
Cocoa (Theobroma cacao L.) is a vital cash-crop for four to six million small-holder farmers across the tropics, and supports a global chocolate industry valued at over USD 100 billion annually.
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Consumers will have to get used to paying more for chocolate as cocoa remains at historical highs, Mondelez International’s CEO Dirk Van de Put has said. While the head of one of the world’s ...
For Mondelez, the answer to higher cocoa prices is assortment, agility, products formulated with chocolate and other ingredients or inclusions that bring costs down, and “pushing premium harder.” ...
Crushing diseases that purged cocoa crops in West Africa, combined with a difficult growing season -- similar to the weather woes that spurred a spike in coffee prices-- have driven up cocoa ...
The Minister for Food and Agriculture, Eric Opoku, has announced that the government will offer cocoa farmers 70% of the world market price for their produce, exceeding the initially proposed 60%.
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