Global cocoa prices have hit a fresh record high as dry weather hurts crops in West Africa.
Cocoa prices on the New York commodities market reached a new all-time high of $5,874 (£4,655) a ton on Thursday.
The cost of the key ingredient for making chocolate has now roughly doubled since the start of last year.
Soaring cocoa prices are already filtering through to consumers and squeezing major chocolate makers.
Read the full article on the BBC website
NAM Implications:
- Any increase in ingredient cost is serious in the current climate…
- …but double the cost in 12 months has to impact the shelf price…
- …thereby stretching cash-strapped consumers to their limits.
