Bad news for chocoholics with the cocoa price increase
It's a sad day for chocolate lovers who face another price increase for their favourite sweet treat.
If you're a chocolate fan, brace yourself – your favourite treat is about to become more expensive. As cocoa prices soar, so too do the prices of on-the-shelf chocolate.
According to a recent article on East Coast Radio, West Africa, which produces 75% of the world's cocoa, is experiencing a production crisis due to severe weather conditions.
"Severe weather conditions have devastated crops in top-producing cocoa countries like Ivory Coast and Ghana, leading to a critical shortage of cocoa beans."
For chocolate enthusiasts, this means higher prices and potentially less access to the indulgent treats they love.
Read more: Mzansi reacts to weird Smarties sandwich
The cocoa bean shortage resulted in a 45% price hike in 2024, significantly impacting chocolate supply worldwide.
Despite this, Lindt & Sprüngli remain unfazed. Reporting a "7.8% organic growth for 2024", the company believes the rising prices won't discourage their customers from "splurging on chocolates".
In response to record-high cocoa costs, Lindt has already increased its selling prices and anticipates further hikes in 2025.
Vontobel analyst Jean Philippe Bertschy said, "We believe that Lindt is very well positioned to navigate through 2025, which will be a very challenging year for the chocolate industry."
The key question here is: Is chocolate a priority for you?
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