Chocolate lovers will have to open their wallets wider: the reason is unexpected Business

Cocoa prices have reached record highs

Laura Baločkaitė, creative director of Kavos draugas 15min admitted that the chocolate industry is currently experiencing the most difficult period in the last year – the price of cocoa beans has reached highs on the stock exchange.

“Small farms face additional challenges due to the new regulatory acts of the European Union in the area of ​​sustainability, which require additional documents and a large bureaucracy. For some, this process is too complicated. This also affects the decrease in supply and the increase in prices,” she said.

According to “Trading Economics”, the price of cocoa reached regarding 8,173.74 US dollars (regarding 7,490 euros) per ton on Monday. According to the same source, the price of cocoa increased by 143.55 percent during the year.

Shutterstock photo/Cocoa beans

Marius Tilmantas, head of Maxima’s purchasing department 15min noticed that the price of raw cocoa in the world markets is reaching new records, which will be increasingly felt by consumers of chocolate and other cocoa products.

“During the year, the price of cocoa raw material increased 3.5 times, and from February of this year to now, the fixed price growth reaches 30 percent.” An even greater rise in the prices of cocoa beans and cocoa butter is expected in the fall,” warned M. Tilmantas.

Justas Razmus, the marketing manager of “Vilniaus pergalės” seconded that it is unlikely that the situation on the market will improve in the near future, because not only their specialists, but also world economists and other experts who monitor commodity exchanges see no reason for this.

A factor that caused confusion in the market