Chocolate product prices have risen due to climate change negatively affecting cacao production. Major companies Orion and Haitai have implemented average price increases of 10.6 and 8.6 percent, respectively. The price of cocoa reached $9,236 per ton, indicating dramatic rises over the past year. Industry sources warn of potential further price increases in various agricultural products as global warming intensifies.
The rise in prices of chocolate-based products, such as cookies, chips, and other snacks, is attributed to the adverse effects of climate change on cacao production. Recently, Orion, a leading confectionery manufacturer, announced an average price increase of 10.6 percent across 14 of its products, with certain items like Choco Songyi and Bichobi experiencing a hike of as much as 20 percent. Similarly, Haitai Confectionery & Foods raised the prices of ten products, including the popular Homerun Ball and Pocky, by approximately 8.6 percent.
The escalating costs are significantly influenced by dwindling cacao production linked to extreme weather conditions and reduced cultivation areas, particularly in West Africa, which constitutes a major portion of global cacao supply. According to the Ministry of Agriculture, Food and Rural Affairs, the price for processed cacao has soared to $9,236 per ton, marking a 127 percent increase from the previous year and a staggering 246 percent rise compared to average prices in recent years. Additionally, industry experts caution that climate change could further drive up the prices of various agricultural and processed products globally, as evidenced by recent surges in price for commodities such as sugar, flour, and palm oil.
The effects of climate change on agriculture have profound implications for food production and pricing. In particular, cacao, the essential ingredient in chocolate, has been heavily impacted by variations in climate, leading to reduced yields and higher costs for production. The situation is dire in regions like West Africa, which is central to the global supply of cacao and is experiencing severe climate stress. Such agricultural disruptions not only increase the costs of chocolate products but also pose broader economic challenges across food sectors, driving up prices of various staples influenced by changing climatic conditions.
In conclusion, the rise in chocolate product prices is a direct consequence of climate change affecting cacao production. With companies like Orion and Haitai implementing significant price increases, consumers are feeling the impact of diminishing cacao availability, particularly from vulnerable regions like West Africa. As climate change continues to pose risks to agriculture, further price hikes across the food sector may be anticipated, necessitating a reevaluation of sustainable agricultural practices to mitigate these challenges.
Original Source: www.koreatimes.co.kr
