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Cocoa prices rise: impact on the financial world
According to a report from www.t-online.de, inflation does not stop at chocolate and other products containing cocoa. Prices of chocolate and similar products increased by 12.6 percent compared to last year, mainly due to the increase in the prices of cocoa beans, cocoa butter and sugar. This could have an even further impact on prices due to increased import prices between October 2022 and October 2023. The increased prices of raw materials such as cocoa beans and cocoa butter by 53.9 percent and 27.6 percent respectively are expected to lead to a further increase in the price of chocolate. This could lead to sharp price increases next year as import prices rise massively...
Cocoa prices rise: impact on the financial world
According to a report by www.t-online.de,
Inflation does not stop at chocolate and other products containing cocoa. Prices of chocolate and similar products increased by 12.6 percent compared to last year, mainly due to the increase in the prices of cocoa beans, cocoa butter and sugar. This could have an even further impact on prices due to increased import prices between October 2022 and October 2023.
The increased prices of raw materials such as cocoa beans and cocoa butter by 53.9 percent and 27.6 percent respectively are expected to lead to a further increase in the price of chocolate. This could lead to sharp price increases next year as import prices have risen massively. In 2022, 473,400 tonnes of cocoa were imported into Germany, with Ivory Coast accounting for the majority of imports, followed by Ghana and Nigeria.
Rising prices for cocoa-based treats could impact the confectionery market as consumers may no longer be willing to pay higher prices. This could lead to a change in demand for chocolate and other cocoa-containing products, prompting manufacturers to seek alternatives or reduce production costs to remain competitive.
Read the source article at www.t-online.de