The global cocoa market is experiencing unprecedented challenges. The 2023 and 2024 cocoa seasons have been severely impacted by climate-related issues, plant diseases, and flooding, leading to a dramatic shortage of supply. This has caused cocoa prices to surge from around $3,500 per ton to an astonishing $12,000 per ton, fluctuating between $10,000 and $12,000 per ton in recent months. While future projections suggest some relief, the market remains volatile, with December futures still anticipated around $9,000 per ton.
This has necessitated a price increase in our chocolates, specially those with a higher cocoa percentage.