New York CNN —If you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher.
Because of that, there is an “outsize impact of the region’s weather patterns on world cocoa prices and supplies,” according to Gro Intelligence’s post.
Tony's Chocolonely welcomes higher cocoa prices.
Petra Figueroa/SOPA Images/LightRocket/Getty Images“We are very happy that cocoa prices are rising,” said Pascal Baltussen, chief of impact and operations at Tony’s.
“Cocoa prices have been way too low for West African cocoa farmers to earn a living income.”Cocoa futures are used to determine the prices paid to farmers for cocoa in Ivory Coast and Ghana.
Persons:
El, Paul, Christophe Gateau, Niño, ”, Intelligence’s, Tony's Chocolonely, Petra Figueroa, Pascal Baltussen, Alex Assanvo, Côte, “ Price, Tony’s, Baltussen, Steven Voskuil, Hershey, “, we’ll, —, Laura Paddison, Rachel Ramirez
Organizations:
New, New York CNN, Rabobank, International Cocoa, Getty, Cocoa Organization, Gro Intelligence, Hershey
Locations:
New York, Europe, Asia, Agboville, Ivory Coast, Ghana, Cameroon, Nigeria, Amsterdam, Tony’s, NIQ