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chocolate soared in price in the US. 3.99 bars are now 6.50. and the article says it right up front-- the local government regulators are to blame here. They are probably either incompetent or corrupt. (not that western governments are any better)
"Much of the world's cocoa is produced in Ghana and Ivory Coast, where state regulators set the price a year in advance. The recent collapse in prices has made their beans around 40% more expensive than international traders are willing to pay."
Seems to be the same story as beef. Beef prices for the consumer are up, but not for the rancher (who are rich and you don't have to feel bad for.) But the giant companies in the middle are making record profits.
not for the rancher (who are rich and you don’t have to feel bad for.)
As is the story old as time. Low margin small independent producers can't absorb the hit to sales price with rising input costs, while the corporate CAFO's that have oodles of capital simply absorb the independents.
Don’t worry chocolate farmers, my wife and I are on it!
Goddam that is harsh for those Cocoa farmers. I wasn't even aware prices had dropped.
No wonder it was a huge deal for farmers when EU (EEC) managed to get most of these issues under control for European farmers.
Can I help by buying more chocolate?
No. This is about the cocoa beans in this region specifically, and how prices are set.
Don't worry, it'll get worse with global warming!