Cocoa Crisis Alert: Candy Companies Brace for Skyrocketing Costs and Creative Solutions for the Future
In Ragonvalia, Colombia, the rising price of cocoa has food companies bracing for impact. A recent surge in cocoa prices, reaching an all-time high of over $11,000 per metric ton, has been attributed to concerns about supply due to a weak crop. The largest candy companies, including Hershey, Mars, Ferrero, and Mondelez, are facing higher cocoa costs, although long-term contracts may offer some protection for now. The majority of the world’s cocoa supply comes from …