Chocolate product prices have increased due to climate change affecting cacao production. Major companies like Orion and Haitai have raised prices by up to 20 percent. Cacao production declines, particularly in West Africa, have driven cocoa prices to $9,236 per ton, reflecting a significant rise over previous years. Experts warn of further price increases across agricultural sectors due to ongoing climate challenges.
The cost of chocolate-based products has experienced an increase due to the adverse effects of climate change on cacao production. Renowned confectionery giant Orion has raised the prices of 14 of its products by an average of 10.6 percent, with notable increases of up to 20 percent for specific items such as Choco Songyi and Bichobi. In addition, Haitai Confectionery & Foods has adjusted the prices of 10 products, including Homerun Ball and Pocky, by 8.6 percent. The surge in prices has been attributed to a significant reduction in cacao production caused by extreme weather conditions and progressively decreasing cultivation areas. Particularly, West Africa, a pivotal region for global cacao supply, has been facing disastrous declines in production. As of last week, the price of cocoa reached $9,236 per ton, marking a staggering 127 percent increase from the previous year and a profound 246 percent rise compared to recent averages. Furthermore, industry experts caution that climate change is anticipated to escalate costs of various agricultural products and processed goods, as evidenced by recent price surges in commodities such as sugar, flour, and palm oil.
This article addresses the rising prices of chocolate products linked to climate change, particularly focusing on the impact on cacao cultivation. Cacao is the primary ingredient in chocolate, and extreme weather conditions have been detrimental to its production, especially in West Africa, which plays a crucial role in supplying the global market. As temperatures continue to rise and weather patterns alter, the agricultural industry faces significant threats, leading to increased costs for both producers and consumers.
In summary, the increase in chocolate prices serves as a stark indicator of the broader repercussions of climate change on global agriculture. With core ingredients like cacao suffering from production declines, major confectionery companies are compelled to raise prices to reflect increased costs. The situation underscores the critical need for sustainable practices to mitigate the impacts of climate change, which threaten not only chocolate prices but the stability of other agricultural sectors as well.
Original Source: www.koreatimes.co.kr
