The price of cocoa it’s going up to the stars. This was announced by Ivory Coast, the world’s leading producer of one of the most loved foods of all. In fact, it seems that the cost will increase by 50%, or from 1.52 to 2.27 euros per kilo.
This is a decision born from the climate change and diseases affecting crops and which have caused a clear decrease in the harvest over the last three years. But let’s see in detail what is happening and what can be done.
Why Ivory Coast raises the price of cocoa
Long periods of Drought they alternate with torrential rains. We are faced with extreme climatic conditions that do not allow the correct development of agriculture in Côte d’Ivoire. This is why the price of cocoa skyrockets. To complicate the situation, then, there is also a virus that spreads among trees through scale insects, killing them.
According to estimates, by 2050, global warming will also affect cocoa production in Ghana. The two countries represent more than half of global production. As a result, crops will have to be moved to higher altitudes. It is practically certain, therefore, that we will see massive deforestation. This is a practice that has already reduced forest cover by 90% in Côte d’Ivoire since 1950.
Furthermore, it is expected that theglobal cocoa supply of 2024 will decrease by almost 11% compared to the previous year. The resulting price increase will therefore also have repercussions on processed products and the economy around the world. It is a product used on a large scale and in multiple production areas. The expiry date of chocolate becomes a fundamental factor to avoid unnecessary waste (given the costs).
What is the most valuable cocoa in the world: the various types
The price of cocoa is skyrocketing, not only due to the scarcity of the raw material, but also because it is so valuable and good that it is practically irresistible. When we think of chocolate, perhaps, we don’t focus on the many varieties that exist in nature. Your mind goes to the classic bar, but there are many qualitative and economic distinctions to make.
Wanting to think big, the Criollo it is the most valuable variety of all, in fact it comes from an extremely delicate plant and particularly subject to attacks by parasites. This depends on the fact that it has never been hybridized and, therefore, made more resistant. Furthermore, the production yield is not very high and being able to find this quality of cocoa is really complicated.
It is a product that costs two to four times more than Forastero, which is the most widespread. Criollo also has beneficial properties and represents only 0.001% of the market. It is found in Venezuela, Peru, Colombia and some islands in the Indian Ocean.
Forastero cocoa represents more than 90% of the chocolate we eat every day. It’s definitely lower quality, but there are qualities that are definitely noteworthy. Among these, we find theArriba National Ecuadorian and the National Peruvian.
From the union of Criollo and Forastero was born the Trinitarian, named after the island of Trinidad, off the coast of Venezuela. This variety represents approximately 8% of the market and is considered an excellent quality product, even when talking about cocoa powder.
