Cocoa

Cocoa Prices Soar: Easter Chocolate Prices Could Skyrocket – Hershey and Cadbury Warn of Possible Price Hikes

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New York, NY – The skyrocketing prices of cocoa are causing concern for Easter chocolate lovers as the cost of the key ingredient for delicious treats has almost doubled in 2024. This surge in cocoa prices has even outpaced the growth of bitcoin over the past 12 months, potentially leading to higher prices for Easter goodies. Manufacturers like Hershey and Cadbury are already contemplating passing on these increased costs to consumers through price hikes. The …

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Chicago’s Iconic Blommer Chocolate Co. Factory Closing, Cutting 250 Jobs – Major Shake-Up in North America’s Cocoa Industry

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Chicago, Illinois – Blommer Chocolate Co. announced on Friday that it will be shutting down its iconic factory located at 600 W. Kinzie St. in Chicago at the end of May. The closure comes as a result of the company facing escalating operational costs associated with its aging facility. This decision will result in the loss of 250 jobs, according to a company spokesperson. The Blommer Chocolate factory, established in 1939, has been known for …

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Cocoa Crisis: African Cocoa Plants Run Out of Beans, Global Chocolate Prices Skyrocket

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New York, USA – The global chocolate industry is facing a crisis as African cocoa plants are running out of beans, leading to a potential shortage that could impact chocolate lovers worldwide. This shortage is causing prices to soar, exacerbating concerns about the future availability of everyone’s favorite sweet treat. Reports indicate that African cocoa processing plants are struggling to afford buying beans due to the shortage, further intensifying the chocolate crisis. The situation is …

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Cocoa Crisis: Prices Skyrocket, Threatening Valentine’s Day Treats

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NEW YORK, NY – The surge in cocoa prices is impacting chocolate makers and consumers alike, particularly as Valentine’s Day approaches. The price of cocoa futures has doubled in the past year, leading to concerns about the affordability of chocolate treats. Major chocolate manufacturers, such as Hershey Co., are feeling the strain of historic cocoa prices, leading to a 5% reduction in their workforce. The rise in prices is attributed to climate issues in West …

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Cocoa Prices Soar: Hershey Warns of Profits Plunge Due to Record Costs – Is Chocolate About to Get More Expensive?

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Hershey, Pennsylvania – The US chocolatier Hershey is facing challenges in profits and sales due to a significant increase in the cost of cocoa, prompting the company to warn consumers of potential price hikes on their chocolate treats. Cocoa prices have surged to record levels, reaching $5,874 a ton in New York, driven by dry weather affecting crops in west Africa, the region responsible for the majority of cocoa supply globally. As a result, Hershey’s …

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