Chocolate and cocoa prices to rise sharply: what prices to expect for Ukrainians.

A crisis has occurred in the global market with the increase in cocoa bean prices, leading to a record rise in their cost. The cost of cocoa with delivery in March 2024 has exceeded 12 thousand dollars per metric ton, which equates to a 185% increase compared to last year.

Experts explain that this crisis is related to problems that have accumulated over the last 15 years. One of these issues is the aging of cocoa plantations in Africa, which leads to a decrease in the productivity of the trees.

"Ivory Coast and Ghana - the largest global suppliers of cocoa beans, where up to 65% of the world's production is grown - have been most affected. The yield on old plantations has decreased by almost half, and recovery in production is not expected until 2026-2027," say experts.

The Ukrainian market is also feeling the effects of this crisis. Prices for chocolate and cocoa have already risen, and it is known that their increase will continue over the next three weeks. Experts predict that chocolate prices may rise by 50-70% compared to autumn 2024.

Manufacturers are looking for ways to save in light of this crisis. Some companies are reducing portion sizes or changing ingredients, adding more fillers. This may lead to an increase in high-quality chocolate in the premium market segment.

Overall, it’s Time to find out what is actually added to dairy products.