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CNN —Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Poor climate and crop diseases in West Africa – home to 70% of global cocoa production – have tightened supply and caused prices to skyrocket. As prices rise, some chocolatiers are exploring cost-cutting alternatives, like diversifying their products to depend less on cocoa. Yet mining often destroys farms and the possibility of a livelihood in cocoa production, Issaka said. “Given the persistently high cocoa prices, it may be necessary for us to make responsible adjustments to pricing in the future,” the spokesperson wrote in an email.
Persons: Hershey’s, Shaquille O’Neal, Michele Buck, Billy Roberts, Roberts, ” Roberts, Issaka, Will Kletter, Kletter, , Peng Xu, Christopher Taylor, Li, Taylor, , “ We’re, “ It’s, ” Taylor Organizations: CNN, Cadbury, NCA, “ Brands, Industries, International Cocoa Organization, Rabobank, US, , Euromonitor Locations: West Africa, North Region, Ghana, Ivory Coast, Silicon, Washington ,, Manhattan
Rising cocoa prices aren’t the only concern for customers this Valentine's Day. Last Thursday, Hershey Co. said it would cut 5% of its workforce after historic cocoa prices and inflation-weary consumers dampened fourth quarter earnings. “And it looks like it’s not necessarily going to subside anytime soon.”The Supreme Valentine’s Day SweetRoughly 92% of Americans say they plan to share chocolate and candy for Valentine’s Day this year, according to the National Confectioners Association. In 2023, Valentine’s Day chocolate and candy sales exceeded $4 billion, the NCA says. Issaka said that while high demand and low supply raise prices, cocoa farmers are getting squeezed.
Persons: , Michele Buck, Billy Roberts, ” Roberts, Lindsey Nicholson, Marnie Ives, Ives, ” Ives, “ It’s, Karl Schneider, Roberts’s, Issifu, Issaka, ” Issaka, “ I’m, Cote, Will Kletter, Sabi Ibarra Guerrero, Uwe Gneiting, Gneiting, Joke Aerts, Aerts, ” Aerts, Sia Kambou, Price, Tony’s, , they’ve, CNN’s Eva Rothenberg Organizations: CNN, Hershey Co, National Confectioners Association, NCA, Cocoa, Oxfam America, Getty, Fairtrade, Cote d’Ivoire, Locations: West Africa, North America, Manhattan, Queens , New York, Neck, NY, Bloomfield , NJ, Ghana, North Region, Cote d’Ivoire, Silicon, Africa, Accra, Cote, Hermankono, AFP
The tool uses data on the climate, water and soil of a particular location to measure how viable the landscape will be for growing in the coming years. “The way we think about AI is it’s a time and effectiveness multiplier to the solutions for climate change,” Gupta told CNN. But for all of AI’s promise, the infrastructure that supports the technology — data centers filled with rows of powerful, energy-sucking computers — could itself be a strain on the environment. For now, the amount of energy used to power AI is relatively small compared to what’s consumed by transportation or buildings. Data center operators like Google are already thinking about how to reduce the resources needed to power the computing behind their AI models.
Persons: David Rind, ClimateAi, Himanshu Gupta, ” Gupta, , Fengqi, , Kara Lamb, Aditya, Dan Keeler, ” Keeler, Anna Liljedahl, ” Liljedahl, Keeler, Daniel Leal, ClimateAi’s Gupta, Anna Robertson, ” Robertson, Alex de Vries, Alex Kraus, Adam Selipsky, , Gupta Organizations: David Rind . New York CNN, Farmers, CNN, Cornell, Getty, Technology, Climate Research, Google, Bloomberg, Web Services, , “ Regulators, ” Tech Locations: David Rind . New York, India, Maharashtra, Columbia, American, Ireland, Oregon, United States
India's export ban on rice is reverberating through global rice markets, threatening food security if developing nations cannot afford or access rice. India's rice exports make up 40% of the market, so any export bans quickly influence global prices. U.S. rice farmers face the same volatile rice prices. "Our farmers, they'll go up against any rice farmer," Michael Klein, vice president of communications and domestic promotion at USA Rice, told CNBC. When U.S. rice farms struggled to stay profitable as global rice prices mismatched with rising input costs, Congress passed $250 million in supplemental funding.
Persons: Rice, Peter Bachmann, Will Fletter, Bachmann, they'll, Michael Klein, USA Rice, Klein Organizations: CNBC, International Food Policy Research Institute, USA Locations: Africa, Southeast Asia, India, U.S
How U.S. soybeans influence global economics
  + stars: | 2023-10-12 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com   time to read: +3 min
"Soybeans are kind of that wonder crop that has amazing capabilities" Arlan Suderman, chief commodities economist at StoneX, told CNBC. "The average soybean production in our county 40 years ago, in 1980, was 31 bushels. The global soybean market exploded in recent years with U.S. production at the forefront. However, the U.S. has since lost its dominance, in part, thanks to its reliance on a single export market: China. According to data from the USDA, about half of the value of U.S. soybean exports head to China.
Persons: Himanshu Gupta, ClimateAI, Suderman, wasn't, Meagan Kaiser, Joe Janzen, Janzen, Kaiser Organizations: National Oilseed Processors Association, United, CNBC, U.S . Department of Agriculture, University of Illinois Locations: U.S, China, Brazil, Argentina
He was on track to become an academic but pivoted to climate tech for a better work-life balance. But now I work in climate tech, and I've never been happier. Building an online presence helps candidates stand out in a competitive job marketBuilding my online presence really set me apart from the typical candidate. I also launched a newsletter called Geospatial Jobs to compile open positions in climate tech for thousands of subscribers. Take advantage of the high demand for climate-tech jobs todayNow is the best time to break into climate tech.
Rotem Yossef spent seven years at Amazon before moving to ClimateAI, a tech startup. It's all hands on deck, all day, every day. Working for a startup offers more vertical career-growth potential: It's a pure meritocracy, free of politics and rigid hierarchical structures. Working in climate tech means that when I go to work, I continue to pursue the same values. Read, read, read — and understand the dynamics and implications of working for a startup and for a startup in the space you're aiming at.
He was on track to become an academic, but pivoted to climate tech for better work-life balance. This as-told-to essay is based on a conversation with Ali Ahmadalipour, a 33-year-old data scientist at climate tech firm KatRisk in the San Francisco Bay Area, about how he broke into climate tech. But now, I work in climate tech and I've never been happier. Building an online presence helps candidates stand out in a competitive job marketBuilding my online presence really set me apart from the typical candidate. Take advantage of the high demand for climate tech jobs todayNow is the best time to break into climate tech.
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