Costlier
Representative Image for Cocoa Based Chocolate
| July 30, 2023, 3:49 a.m.
Chocolate Prices Set to Surge as Cocoa Reaches 10-Year High, Industry Braces for Impact
As cocoa prices hit a 10-year high, the chocolate industry prepares for the ripple effect, anticipating costlier chocolate products. The surge in cocoa prices is attributed to supply chain disruptions, growing demand, and climate-related challenges affecting cocoa production. Consumers and businesses in the confectionery sector may face the challenge of rising costs and potential adjustments in pricing strategies.
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