The price of cocoa hit a new record fuelled by climate change and adverse weather conditions – impacting a market that has already seen high Easter chocolate prices in Europe.
In the latest price hike, the cocoa bean traded above US$10,000 (£8,000) per tonne on world commodity markets, US$2,000 more than last week.
The world’s largest cocoa exporters – Ivory Coast and Ghana – suffered poor harvests after droughts in February following heavy rains in December.
Popular brands of Easter eggs will now cost 50% more than last year, forcing companies to promote non-chocolate Easter treats like biscuit bunnies.
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