Cocoa Prices Go Loco
With Halloween coming up next week, some consumers will likely be shocked at the price of candy due to the elevated price of cocoa. 😱
The vital ingredient in chocolate is hitting its highest levels since 1979 as hotter and drier weather patterns stunt this year’s crop. Roughly 75% of global cocoa beans come from the Ivory Coast, Ghana, Cameroon, and Nigeria, where consistent temperatures, high humidity, abundant rain, and nitrogen-rich soil allow it to thrive.