A cocoa shortage has caused prices to soar to all-time highs, impacting chocolate companies and chocolate lovers alike. The shortage, which has persisted for three consecutive years, can be attributed to a deadly cocoa bean virus that has swept through the world’s top cocoa-growing countries. Additionally, illegal gold mining operations have contributed to the shortage by fueling deforestation and encroaching on cocoa farming land.
The scarcity of cocoa beans has led to a decrease in the size of chocolate bars as companies struggle to maintain profit margins. Despite these challenges, some chocolate producers are finding innovative ways to overcome the shortage. For example, Mars Wrigley has ramped up production to meet the high demand for Halloween candy, producing a record amount of treats for consumers.
As the oldest chocolate house in New York City navigates the impact of the cocoa shortage, they have been able to survive by adapting their business strategies and seeking out alternative sources of cocoa beans. The process of roasting cocoa beans has become an integral part of the chocolate-making process, as companies strive to preserve the quality and flavor of their products in the face of dwindling supply.
Overall, the surge in cocoa prices serves as a stark reminder of the delicate balance between supply and demand in the global chocolate industry. As chocolate companies and consumers alike grapple with the implications of the cocoa shortage, it remains to be seen how the market will continue to evolve in the coming years.
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Video “Cocoa Prices Reached All-Time Highs. What Does That Mean For Our Halloween Chocolate? | Big Business” was uploaded on 10/31/2024 to Youtube Channel Business Insider
Just use synthetic fake chocolate just like any other product nowadays. I seriously doubt manufacturers use actual chocolate beans anymore.
11:10 I wonder what make a company accept to reduce their margins , that means that not always is transfer to the consumer
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My heart breaks for farmers like Janet. How horrible for her to wake up one morning to find her farm invaded… for gold. Chocolate is gold too!
Trump will make chocolate prices go down.
I think about this every time I think about buying chocolate.
I will use any excess wealth I have in my life to help people like this. And other charities for our Planet.
Today I learned of a new job. Chocolate Scholar.
Thank goodness, i hate chocolate …
i want chocolate now
The only reason those packets have less chocolate in them, is corprate greed- not shortages. Sh*t quality, is 100% a decision of greed, masked by "unfortunate circumstances". Makes me sick, and I don't even eat candy.
I noticed the "share size" bag of peanut m&m's at the Vons Check out is way too small to share compared to years ago
IT'S A GOOD THING. CHOCOLATE IS OFTEN RELATED WITH SUGAR AND DIABETES
It means buy a bunch of chocolate before they raise the prices HURRYYYY!!!
Prices are so high I turned off all the lights to pretend I wasn't home yesterday 😅
Good, less obesity!
If you get paid the same for producing less then it's better to not work.
Don't worry guys. Prices will go up and you will pay it!! 😊😊
Forget about Halloween candy…..what does this mean for Hot Cocoa??
It means that people spend too much on chocolate
Welp, time to stock up on my favorite chocolate brand before chocolate becomes unaccessible, just like toilet paper was in 2020! (Zimt Chocolates is the best BTW – and is delightfully vegan!)
Skittles should be banned, or at least have a different recipe. They are banned in some other countries because of what they contain. Titanium dioxide I think. Which tbh, doesn't even really sound like something someone should be consuming anyways 😂
It also means more artificial flavors along with sugar and fillers
Congratulations on making yourself sicker by having those. This business is sick in it's roots- from sourcing cocoa up to "cutting costs" to save consumer lmao
Amazing process!!!! I love this video.
Remember the time when chocolate was only a once or twice a year treat? Now it seems it's a regular item in most peoples supermarket trolley.
How do you unwind 40 years of brainwashing…i mean marketing?
What I have noticed is that the chocolate bars are getting sweeter day-by-day. This could be due to more sugar and less cocoa. Also, for the same price the bar size/weight has decreased. I prefer spending more on the chocolate than eating more sugar or chocolate analogs. The issue of cocoa shortage is just going to get worse, btw. Brace for the impact.
Though 'chinese' companies can't come in without govt. permit.
corruption and greed
What is it with Americans who can't pronounce words correctly. At 15:12 it's caramel not carmel 🤦
so this is why our lone cacao have fruits always turn black, this is horrible virus no edible fruit is left to pick
8:42 Not trading. Exploitation and extractive
thank god my body does not handel sugar well so chocolat is of the hook 🙂
Bro they peaked like half a year ago.
Boycott
Why don’t Mars and other large companies support their cocoa growers, who are based in economically disadvantaged countries, for the four years it takes them to rebuild their crops and supply again?
I don't know why the Ghanaian government wouldn't make it cheaper for local producers
The Chinese are destroying our chocolate! Terrible people!
14:31 how can that be true ? the price of m&m's in germany rised by like 200%
best thing to do is stop eating so much chocolate… the resonable thing to do.. but nah people will just pay more for less as how this goes these days
Considering a snickers bar is like 10% chocolate, I imagine not much.
Succession planting of the trees, sanitation, netting/cage, and DE.
🚫 Cargill 🚫
17:22 Actually the best thing we can do is push for the safety of small farmers in ghana, their livelyhood is being taken away by criminal activity after all. Its insanity, they produce 3 forths of all cocoa and get to keep 5% of the chocolate industry? All while under threats of death and ocupation?
17:43 If its consumed everyday its not a luxury. Chocolate is not a luxury item, its a sweet, its food. It might be non-essencial to the human diet but it doesnt make it a luxury, it would be as to say any other beverage besides water is luxury.
Everyone deserves nice things, its chocolate for christs sake
the typical shrinkflation. Reduce size, increase/keep the price….