How The Price Of Chocolate's Key Ingredient Surged More Than 300% In 2024
Chocolate's key ingredient cocoa has soared in price throughout 2024. The soft commodity reached $11,000 a ton for the first time ever, after costing suppliers less than $3,000 a ton two years ago. Factors like crop disease, El Niño, farm gate prices, and speculative market investment have all contributed to the classic sweet's historic run-up. Watch the video above to learn more about the causes of this lengthy move higher in price, and what's next for the industry.
Produced and Edited by: Christian Nunley
Graphics by: Christina Locopo
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images, Nestle, Voyage Foods
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How The Price of Chocolate's Key Ingredient Surged More Than 300% in 2024
Пікірлер: 218
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20 күн бұрын
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The question is what hasn't increased besides wages?
@deltakid0
22 күн бұрын
Excellent question
@mrwilliamwonder
22 күн бұрын
Those increased too. Min wage workers in my area went from $6.50 and hour to $18 an hour after the pandemic.
@Car_Fanatic
22 күн бұрын
Wrong things increased because covid was released to make the rich use it aj excuse to price hike the entire planet In summary They made the entire earth salaries become 20% lower Making them 20% richer
@Car_Fanatic
22 күн бұрын
@mrwilliamwonder your people are the only ones that matter clearly. The rest of the cities countries of the world don't matter as long as ur city or state etc got it's raise. Also ur proud that ur city or area used to pay people 6.50 for years until recently U just insulted ur own place lol Ciao silly human
@optick3554
22 күн бұрын
My wage has shot up since the pandemic. Gotta be willing to leave your employer.
There is only 10 percent Coco in a Hersey Chocolate bar... This company are greedy.
@RasielSuarez
22 күн бұрын
That must be their super premium line. I thought regular Hershey's was just brown color wax + high fructose syrup.
@KevinSmith-qi5yn
22 күн бұрын
Hershey's is Sugar, Milk, Chocolate Liquor, Cocoa Butter, Lactose, Milk Fat, Soy Leicithin (Soy Bean Oil), PGPR (Castor Oil), Vanillin(Vanilla Extract), Artificial Flavor. It's 55% sugar. and 11% Cocoa Butter. The other 2 ingredients before Cocoa Butter are probably in the teens range. The other ingredients are less than 10%.
@Martin_Priesthood
21 күн бұрын
@@KevinSmith-qi5yn 😂😂 plastic chocolate
@grahamjl766
20 күн бұрын
@@Martin_Priesthooddelicious plastic 😋🤤
@user-fm6ns5nb4j
18 күн бұрын
Nobody outside the US would ever describe a Hershey Bar as anything other than disgusting, and that has been true for as long as I can remember - if there is a major product that could have cocoa butter substituted without affecting the "quality" then the Hershey Bar is it.
So everyone profits except the cacao farmers and the consumer. What a shock.
@mingdianli7802
12 күн бұрын
"Historically high cocoa prices and elevated sugar costs, along with incremental labor inflation and negative product mix, are expected to more than offset net price realization," Are you too dumb to understand what that sentence is saying? Hershey stock is down more that 25% in the past 12 months
Chocolate will become a luxury in the next 30 years
African nations should create their own chocolate late brand.
@ghizlanetaibi9629
20 күн бұрын
it's humid near the equator , so very dificult to work with coco butter , going to be expensive due to AC and energy cost to cool stuff down
@Blueweek1
19 күн бұрын
They tried but the west sanction them for it
@starsnoireart
18 күн бұрын
Not these comments acting like chocolate brands don’t already exist in African countries 🤦♀️ chocolate brands exist over there. They just don’t operate on the same scale as brands like kitkat and hersheys.
@nandib570
14 күн бұрын
There are already chocolate companies in Africa. I've had chocolate from Ghana.
They will never decrease the prices, even after cocoa prices fall
The guy with the wine collection is the real reason why farmers in Ghana cannot get higher prices for their cocoa.
That guy had to show his wine collection eh?
@CyberspacedLoner
22 күн бұрын
Where does he store his books I wonder?
@mrwilliamwonder
22 күн бұрын
Not impressed, let's see his cannabis strains.
@GameFuMaster
22 күн бұрын
@@CyberspacedLoner like any smart modern person, on his phone or electronic reading tablet
@Grippybananas
21 күн бұрын
Anything good
So instead of robbing a bank it is now more profitable to rob a Swiss chocolate store.
@BatsiraiMusuka
21 күн бұрын
Those companies have done that to Africa for decades. Now they’re celebrating these alternatives joining the market. Then people wonder why we have a migration crises.
Cocoa > NVIDIA
@AssetAddict
22 күн бұрын
Crazy talk.
The music drives me nuts...😵💫
@Obsidian-Nebula
19 күн бұрын
.... coconuts? Anyway, I'll leave, I know
the nestle kit kat chocolate bar I just ate claims it's made from 100% sustainable cocoa, so based on that claim there shouldn't be any problems
@smithjohn5217
22 күн бұрын
Have you seen nestle company practice, I believe its the most evil corporation in the planet. Look it up.
@johnsmithsu310
21 күн бұрын
Surely it's 100% cocoa, right?!? * *Clueless*
@dudea3378
21 күн бұрын
100% of the 10% of actual chocolate that is in the bar 😂
I’m sure that the actual producers do not see any of this price increases!!! 😂
Chocolate/sweets and other items are once consider a luxury. Now it's up to the society to see what's consider true luxurious. 😊
I would never deprive myself of chocoloate. So I invested in a wet grinder that could turn raw cacao nibs into liquid, then into delicious chocolate bars. Raw cacao nibs are just $9 per kilo and can make more than twice their weight in chocolate bars. To make it healthier, I like to sweeten mine with dried dates and coconut sugar, and sometimes I use stevia. I even throw in some flavors and nuts, making it just as good as the store-bought stuff.
They conveniently don't mention the child labor that is involved with the farming of cocoa beans...
@rachaelgreer8768
21 күн бұрын
It's either that, or their parents force them to beg for money. I was in West Africa last year, and talking to the locals about this was eye-opening.
Ofc they won’t say tariffs increase prices… similar to sanctions on cotton, oil, etc
Why coco cost cost have increased=GREED just like everything else that is happening. We really needed a 8 minute video on this? All those factors you mentioned have been in the envirmoent for years. some of it can be controlled and some can't but greed will always surge pricing.
@Car_Fanatic
22 күн бұрын
1000% here's my comment to them Pathetic journalism. Why didn't you take about the abuse cote d'ivoire (largest exporter of cocoa beans) farmers face while being so underpaid they need to have alot of kids so they work on their farm essentially free. And Belgium the world's best chocolate maker is part of the problem. Shame on you This piece is just to help the rich get richer by justifying increasing prices
@spankyssurprise1361
16 күн бұрын
I'm sure the rise in shipping cost, energy costs, labor costs, production costs...had nothing to do with it.
@Car_Fanatic
16 күн бұрын
@@spankyssurprise1361 go to google search (How Loblaws’ Galen Weston Doubled His Wealth At Your Expense) and you will realize inflation is a lie elites used to Rob everyone except themselves lol. Good job being uninformed I applaud you The govt literally proved there was zero inflation related cost increase that justifies the price hikes. Meaning it's all a lie. So sure some things may have inflation, but that isn't caused by the economics it's caused by greed. He stepped down as ceo. But who cares his family owns canada. Doesn't change a thing
Orange juice, eggs, beef, chicken, and now chocolate. The list is growing
It's because Cocoa beans must be picked from the trees only found on the remote island of Loompa Land.
I think it's a good thing when low-cost commodities like Cocoa, Latex, and Cobalt increase in price. It means the costs are there to invest in capital that means more stable production. This also means more investment into these 3rd world countries, and more diversity in the regions producing the product. I think it's better globally when local populaces are advancing economically, and that only happens when there is productive development through capital investment and wage growth. With more countries now competitive to produce cacao, there is less supply impact from a regional crisis. I like how the narrator used El Nino conditions rather than being lazy and saying Climate Change.
Thankfully, I quit eating chocolate recently.
@GameFuMaster
22 күн бұрын
you talk like it's alcohol or something lol. Just have like one piece a week or something
@pdsnpsnldlqnop3330
21 күн бұрын
@@GameFuMaster It is. I quit in January, all junk food, everything processed or with added sugar. I then proceeded to quit everything else I was addicted to. I used to hate vegans, then I accidentally became 'whole foods, plant based' and therefore more vegan than a vegan. Quitting chocolate was a really important step.
@dudea3378
21 күн бұрын
Chocolate is vegan and has miniscule caffeine. Not too be confused with chocolate products which may have tons of stuff added to it
@maximodakila2873
21 күн бұрын
Get yourself a wet grinder and you can turn raw cacao nibs into liquid, then into delicious chocolate bars. You'll never run out of chocolate again! Raw cacao nibs are just $9 per kilo and can make more than twice their weight in chocolate bars. I like to sweeten mine with dried dates and coconut sugar, and sometimes I use stevia. I even throw in some flavors and nuts, making it just as good as the store-bought stuff.
Major of chocolate in markets are fake and chemical junk. So question is why ??
I heard the price of chocolate and sugar would go up from the news. So I bought a lot of them so I should be good for the next 2 years.
We must protect the farmers. On the other hand, since chocolate is just a tasty treat, not an absolute necessity like common staples such as wheat, rice, and so on, its importance is debatable.
@SandcastleDreams
22 күн бұрын
Chocolate is a necessity! 😊 You can't make hot cocoa without it. You can't make chocolate anything without it! Pudding, cake, brownies, frosting, syrup. There is no replacement for it.
i stopped eating potato chips because the price has basically doubled.
@adamhuffman3354
22 күн бұрын
Yea I saw a small candy bar at a convenient store the other day for 2.29! It was one bite!
@Car_Fanatic
22 күн бұрын
U should stop because they are made with cancerous hydrogenated oils lmao
@mrwilliamwonder
22 күн бұрын
I never eat chips. all carbs and oil.
@mrwilliamwonder
22 күн бұрын
@@adamhuffman3354 Walmart still sells the big candy bars reasonable.
@CorporateShill66
22 күн бұрын
Chips are really bad for you, at least chocolate has some health benefits in moderation
Market manipulation and poor management
I guess all of the chocolate companies are going to have to switch from child slave labor to prison slave labor.
They said hershi junk together with cocoa is one video!!!! 😂
Largely speculation. We need new regulations
PHILIPPINES ALSO! MINDANAO!!!❤️❤️❤️
Which group of companies put Cocoa on the market?
Same with fertilizer
Planting Cocoa are not easy to plant. You need a great weather to plant cocoa. Similar to Vanilla.
я месяц назад купил 2 кг шоколадок (55% какао) по старым ценам. мне на 2 года хватит
No more child labor
I can't survive without COCOA.
It's a critical time for strategic diversification and investment in sustainable production methods. 🌍
All those damn ceremonies…
Some brands sell flavored paraffin... Why raise the prices?
@AltimaNEO
22 күн бұрын
Vomit flavored paraffin
This video is incomplete! Do you really believe that suddenly everyone found out that there is a supply and demand issue… Do not call me stupid… you honestly could do a second video to continue this history exploring more the financials
Gold out pricing the s&p 500 market is really bad news for the US 😄
There is NO true alternative to chocolate in terms of taste.
@earth9544
13 күн бұрын
taste and also health benefits
CNBC speaking about price increases in electoral year 😮 Im surprised about this news was approved
What if the same kind of algorithmic price fixing that we are seeing in the real estate rental market and the gas pump is also the reason the price of cacao tripled in one year? - Captain Obvious
That's why India is the next superpower
Reeses peanut butter cups are great
@SandcastleDreams
22 күн бұрын
They used to be great. Now, they are a joke!
Where is the conclusion of why cocoa has soared??
All Bull, they are just charging outrageous prices, please find other sources and supplies. Blame stock market.
Stop producing so much candy and wasting it. I have a job that I drive around all the time from store to store. I see so much of it. Go on sale when the seasons over or go on sale when it’s not the top selling candy. Quit increasing prices just make less.
@haihengh
22 күн бұрын
There isn’t much cocoa in candies. They produce because they can sell and make profit, also you get paid for driving them around, win win here. The solution is not produce less, it is finding a way to produce more and make unit price cost less. People were cheap so they don’t bother to increase productivity, but when people become expensive, companies will need to find a way to deal with less labor and keep up the demand.
The Big 4, the Banks and the chocolate sector
Corn syrup, palm oil, emulsion - it will be cheaper, but 10-20 million Americans become fatter. Not a big price for corporation?
Buy dark chocolate.
the farmers dont know their worth, YOU ARE WORTH MORE THAN THET PAY YOU, IF ALL THE FARMERS UNITED, THEY COULD EARN MORE BY UNITING ONE SINGLE PRICE ACROSS ALL FARMERS
Pathetic journalism. Why didn't you take about the abuse cote d'ivoire (largest exporter of cocoa beans) farmers face while being so underpaid they need to have alot of kids so they work on their farm essentially free. And Belgium the world's best chocolate maker is part of the problem. Shame on you This piece is just to help the rich get richer by justifying increasing prices
@angelsy1975
22 күн бұрын
Who owns the media?
@KevinSmith-qi5yn
22 күн бұрын
@@angelsy1975 I imagine the same people who owned the slave ships and most of the slaves.
@diegocleves2338
22 күн бұрын
Capitalism does not care about poor people
@angelsy1975
21 күн бұрын
@@KevinSmith-qi5yn If not them, then certainly their heirs.
I see everyone its either complaining or whatever. No one here gonna take the initiative and start their own chocolate company. Because deep down. They will go bankrupt within 10 years.
Artificial scarcity.
I don't need an 8 min video to day one word... GREED. Make sure the earth gets some of that profit.
So us coup when?
how? look at unsold chocolate food products lying idle that will never be consumed in markets. why there's over production when everyone doesn't have chocolate daily?
@Car_Fanatic
22 күн бұрын
Because the retailer bought it which makes the chocolate maker rich U don't understand economics lol Toyota for example is not the world's largest car maker or producer they are liars All Toyota does Is produce insane amounts of card, sell them to dealerships And whether dealership sell them or not Toyota doesn't care They sold their product as far as they are concerned
Its sad that CNBC is news channel, cause this is old news, I think you should be called olds channel.
Bitcoin has risen way more than 3% since 2022. The highest BTC went in 2022 was $48.000 in January, 2022. The lowest it went was $16.000 in November, 2022. Measured from each of those points in time, it has risen by 43% and 331%, respectively. A bit besides the point, but worth noting.
Did somebody at CNBC really think that viewers wouldn't know what cocoa is?
Luckily for me, chocolate is a want not a need. So I can just stop buying it 😊
Bitcoin 3% 😮😅 haha who did the research?
Commodities cycles are so sensitive to Fed monetary policy¡¡
barracks ocrap must be held accountable for raising the price of chocolates key ingredient.
How does this affect LeBrons legacy
Chocolate chip cookies are with coco lol 😆
@Photobuffeddy_AGS
22 күн бұрын
They only worried about they bottom line 😅
Amazing how cheaply you can grow/harvest cocoa using child slave labour /s Also, define “luxury” and “treat”
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I can only eat 100% cocoa in chocolate, it will be a problem for me
Stupid leader who is being nice and polite
_why prices of everything are soaring?_ The entire world is near to collapse
@mathewmcfool
22 күн бұрын
collapse?
@Car_Fanatic
22 күн бұрын
Wrong greed and they released the covid virus to justify soaring their prices. There is no justification for the price hike It's just a world reset
nice stop eating sweets get healthy
Whoever is narrating this video sounds like he has no interest in doing so
its all bs
CNBC, You're amazing! Let's be friends and hang out!
This Administration screwed all of us over.
They better not be buying low price chocolate on me… I only buy Swiss chocolate not African chcolate that’s nasty! I don’t want to turn brown I want to maintain Swiss white chocolate complexion ❤❤❤❤
Pay fair market value 🫡
I want to buy gold ❤❤❤❤
It’s a business 3:17 everything is a business even your pretty boy lips botttt
Tell the African farmers to stop wasting their time on their pleasures and plant more! If they spent less time at the broth@als …. They would make money…. Less pooonannggg more chocolate Monaghan ❤❤❤❤
CNBC, You're amazing! Let's be friends and hang out!
@mrwilliamwonder
22 күн бұрын
Are you bored?