Easter wouldn’t be the same without its iconic chocolate eggs. A tradition that, once again this year, delighted both young and old. However, a shadow looms over the chocolate industry.
For the first time in its history, the price of cocoa beans has surpassed the symbolic threshold of $10,000 per ton on Tuesday, March 26th. Industrial giants are destabilized by this meteoric rise and the prospect of dwindling stocks. Given the increasing consumption of chocolate worldwide, the scenario of shortage is worrisome.
The Chocolate Frenzy
Cocoa productions are facing increased and global demand. Asian countries, in particular, have developed a newfound taste for chocolate. Since the 1990s, the market growth in China has led foreign brands such as Ferrero, Cadbury, or Mars to establish themselves.
This indulgence quickly integrated into the country’s traditions. In the case of the Mid-Autumn Festival, held annually in China, mooncakes are the event’s specialty. Typically filled with red beans, egg yolk, or meat, these pastries have been revamped by giants like the American Starbucks or the Belgian chocolatier Godiva, who now offer chocolate mooncakes.
By capitalizing on this new attraction to cocoa, brands ensure themselves an increasingly extensive clientele.
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