How The Price Of Chocolate's Key Ingredient Surged More Than 300% In 2024

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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

Опубликовано:

2 окт 2024

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Комментарии : 170

@tahirisaid2693 4 месяца назад

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

@SimoneAdeliens 3 месяца назад

We work for years to earn $1million on our retirement, while some people put thousands of dollars in the forex market and they become millionaires.

@Berylmason85 3 месяца назад

Best thing that happened to me last year that I can attest to is the progress I have made so far in trading. Entering the world of trading was my best decision ever. I know more is yet to come in 2024.

@ShirleyAdamson 3 месяца назад

I always wanted to trade for a long time, but the price fluctuations have been very confusing to me. Although I have watched many RU-vid videos about it, I still find it difficult to understand.

@EmanuealColesGarcine 3 месяца назад

Personally, I would say to get a guide. Not sure where you will find a good one, but if your knowledge of the market is limited, it seems like a good idea.

@Isabelfarr-ce1tw 3 месяца назад

Wow, I'm a bit surprised to see Ronald Tarrant Blinks mentioned here also. Didn't know he has helped so many people.

@EmanuealColesGarcine 3 месяца назад

people who care knows that he has built a great reputation over the years. I found him with a simple search.

@cyber-tron2633 4 месяца назад

There is only 10 percent Coco in a Hersey Chocolate bar... This company are greedy.

@RasielSuarez 4 месяца назад

That must be their super premium line. I thought regular Hershey's was just brown color wax + high fructose syrup.

@KevinSmith-qi5yn 4 месяца назад

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 4 месяца назад

@@KevinSmith-qi5yn 😂😂 plastic chocolate

@grahamjl766 4 месяца назад

@@Martin_Priesthooddelicious plastic 😋🤤

@MalcolmRose-l3b 4 месяца назад

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.

@TNFVLOGS 4 месяца назад

Chocolate will become a luxury in the next 30 years

@bigheadbabypegion 4 месяца назад

African nations should create their own chocolate late brand.

@ghizlanetaibi9629 4 месяца назад

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 4 месяца назад

They tried but the west sanction them for it

@starsnoireart 4 месяца назад

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 4 месяца назад

There are already chocolate companies in Africa. I've had chocolate from Ghana.

@TheLinguisticDove 2 месяца назад

Agreed

@lzc1234 4 месяца назад

That guy had to show his wine collection eh?

@CyberspacedLoner 4 месяца назад

Where does he store his books I wonder?

@mrwilliamwonder 4 месяца назад

Not impressed, let's see his cannabis strains.

@GameFuMaster 4 месяца назад

@@CyberspacedLoner like any smart modern person, on his phone or electronic reading tablet

@Bellroysg 4 месяца назад

Anything good

@pradbourne2446 4 месяца назад

The guy with the wine collection is the real reason why farmers in Ghana cannot get higher prices for their cocoa.

@svettnabb 4 месяца назад

They will never decrease the prices, even after cocoa prices fall

@nishantahvan 4 месяца назад

Major of chocolate in markets are fake and chemical junk. So question is why ??

@xflyer87 4 месяца назад

So everyone profits except the cacao farmers and the consumer. What a shock.

@mingdianli7802 4 месяца назад

"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

@skyscraperfan 4 месяца назад

So instead of robbing a bank it is now more profitable to rob a Swiss chocolate store.

@BatsiraiMusuka 4 месяца назад

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.

@standodge7687 4 месяца назад

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 4 месяца назад

Have you seen nestle company practice, I believe its the most evil corporation in the planet. Look it up.

@johnsmithsu310 4 месяца назад

Surely it's 100% cocoa, right?!? * *Clueless*

@dudea3378 4 месяца назад

100% of the 10% of actual chocolate that is in the bar 😂

@mathewmcfool 4 месяца назад

Cocoa > NVIDIA

@AssetAddict 4 месяца назад

Crazy talk.

@VirtousStoic 4 месяца назад

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 4 месяца назад

Who owns the media?

@KevinSmith-qi5yn 4 месяца назад

@@angelsy1975 I imagine the same people who owned the slave ships and most of the slaves.

@diegocleves2338 4 месяца назад

Capitalism does not care about poor people

@angelsy1975 4 месяца назад

@@KevinSmith-qi5yn If not them, then certainly their heirs.

@flemmingsorensen5470 4 месяца назад

The music drives me nuts...😵‍💫

@Obsidian-Nebula 4 месяца назад

.... coconuts? Anyway, I'll leave, I know

@joeschmoe5231 4 месяца назад

It's because Cocoa beans must be picked from the trees only found on the remote island of Loompa Land.

@mooncake8254 4 месяца назад

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.

@arthurp68 4 месяца назад

They conveniently don't mention the child labor that is involved with the farming of cocoa beans...

@rachaelgreer8768 4 месяца назад

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.

@anandpaulraj8094 4 месяца назад

I’m sure that the actual producers do not see any of this price increases!!! 😂

@BigMoTheBlackDragon 4 месяца назад

I guess all of the chocolate companies are going to have to switch from child slave labor to prison slave labor.

@KevinLopez-ht9br 4 месяца назад

Market manipulation and poor management

@PedroniousMonk 4 месяца назад

I don't need an 8 min video to day one word... GREED. Make sure the earth gets some of that profit.

@chunweihsu5004 4 месяца назад

Thankfully, I quit eating chocolate recently.

@GameFuMaster 4 месяца назад

you talk like it's alcohol or something lol. Just have like one piece a week or something

@pdsnpsnldlqnop3330 4 месяца назад

@@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 4 месяца назад

Chocolate is vegan and has miniscule caffeine. Not too be confused with chocolate products which may have tons of stuff added to it

@maximodakila2873 4 месяца назад

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.

@mfitaroni 4 месяца назад

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

@rubegoldburg7841 4 месяца назад

There is NO true alternative to chocolate in terms of taste.

@earth9544 4 месяца назад

taste and also health benefits

@jays.4254 4 месяца назад

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.

@VirtousStoic 4 месяца назад

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 4 месяца назад

I'm sure the rise in shipping cost, energy costs, labor costs, production costs...had nothing to do with it.

@VirtousStoic 4 месяца назад

@@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

@saiyanschluntz 4 месяца назад

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 4 месяца назад

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.

@marktn9851 4 месяца назад

Ofc they won’t say tariffs increase prices… similar to sanctions on cotton, oil, etc

@MrMac5150 4 месяца назад

All Bull, they are just charging outrageous prices, please find other sources and supplies. Blame stock market.

@KevinSmith-qi5yn 4 месяца назад

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.

@billbandoh5818 4 месяца назад

Which group of companies put Cocoa on the market?

@Cyrus992 4 месяца назад

Largely speculation. We need new regulations

@SerpkoBakotiinii 4 месяца назад

Corn syrup, palm oil, emulsion - it will be cheaper, but 10-20 million Americans become fatter. Not a big price for corporation?

@mooncake8254 4 месяца назад

Chocolate/sweets and other items are once consider a luxury. Now it's up to the society to see what's consider true luxurious. 😊

@JogBird 4 месяца назад

i stopped eating potato chips because the price has basically doubled.

@adamhuffman3354 4 месяца назад

Yea I saw a small candy bar at a convenient store the other day for 2.29! It was one bite!

@VirtousStoic 4 месяца назад

U should stop because they are made with cancerous hydrogenated oils lmao

@mrwilliamwonder 4 месяца назад

I never eat chips. all carbs and oil.

@mrwilliamwonder 4 месяца назад

@@adamhuffman3354 Walmart still sells the big candy bars reasonable.

@CorporateShill66 4 месяца назад

Chips are really bad for you, at least chocolate has some health benefits in moderation

@Patrick-yh5yd 4 месяца назад

Buy dark chocolate.

@maximodakila2873 4 месяца назад

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.

@earth9544 4 месяца назад

its all bs

@Keichan2501 4 месяца назад

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.

@cmdrls212 4 месяца назад

Artificial scarcity.

@iheartlofi 4 месяца назад

Same with fertilizer

@Toffy-t4f 4 месяца назад

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 4 месяца назад

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.

@cristinawilliams8026 3 месяца назад

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

@bjsimon802 3 месяца назад

criminals are doing all sorts of stuff worldwide. Fight for you freedom to own a house and car

@ricnyc2759 4 месяца назад

Some brands sell flavored paraffin... Why raise the prices?

@AltimaNEO 4 месяца назад

Vomit flavored paraffin

@JG-hz5kh 4 месяца назад

Whoever is narrating this video sounds like he has no interest in doing so

@gandhikumar2956 4 месяца назад

That's why India is the next superpower

@Blueweek1 4 месяца назад

No more child labor

@PhilipLau-zu8hw 4 месяца назад

Stupid leader who is being nice and polite

@EcomCarl 4 месяца назад

It's a critical time for strategic diversification and investment in sustainable production methods. 🌍

@markspark7347 4 месяца назад

Bitcoin 3% 😮😅 haha who did the research?

@kalbogwapo1536 17 дней назад

something wrong with the board.

@noneshere 4 месяца назад

Gold out pricing the s&p 500 market is really bad news for the US 😄

@o1ecypher 4 месяца назад

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

@radkovicbe 4 месяца назад

Amazing how cheaply you can grow/harvest cocoa using child slave labour /s Also, define “luxury” and “treat”

@Anthrax6989 4 месяца назад

nice stop eating sweets get healthy

@montielh 4 месяца назад

CNBC speaking about price increases in electoral year 😮 Im surprised about this news was approved

@caojidan8913 4 месяца назад

Its sad that CNBC is news channel, cause this is old news, I think you should be called olds channel.

@nicolehuff8455 4 месяца назад

Orange juice, eggs, beef, chicken, and now chocolate. The list is growing

@daphnewinters8541 4 месяца назад

Luckily for me, chocolate is a want not a need. So I can just stop buying it 😊

@miccasx 4 месяца назад

ㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤ

@JediMik 4 месяца назад

я месяц назад купил 2 кг шоколадок (55% какао) по старым ценам. мне на 2 года хватит

@ukyamyam 4 месяца назад

Where is the conclusion of why cocoa has soared??

@BatsiraiMusuka 4 месяца назад

The Big 4, the Banks and the chocolate sector

@06Pine 4 месяца назад

How does this affect LeBrons legacy

@警備隊-h8n 4 месяца назад

I can't survive without COCOA.

@Imjusttryingtotellu 4 месяца назад

All those damn ceremonies…

@leanderbarreto980 4 месяца назад

So us coup when?

@user-qp9so2zo1z 4 месяца назад

Reeses peanut butter cups are great

@SandcastleDreams 4 месяца назад

They used to be great. Now, they are a joke!

@riconaranjo 4 месяца назад

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.

@Photobuffeddy1314 4 месяца назад

Chocolate chip cookies are with coco lol 😆

@Photobuffeddy1314 4 месяца назад

They only worried about they bottom line 😅

@deltakid0 4 месяца назад

_why prices of everything are soaring?_ The entire world is near to collapse

@mathewmcfool 4 месяца назад

collapse?

@VirtousStoic 4 месяца назад

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

@auro1986 4 месяца назад

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?

@VirtousStoic 4 месяца назад

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

@ronlevin2339 4 месяца назад

I can only eat 100% cocoa in chocolate, it will be a problem for me

@ELIOSANFELIU 4 месяца назад

Commodities cycles are so sensitive to Fed monetary policy¡¡

@Anonymous-cr3wp 4 месяца назад

barracks ocrap must be held accountable for raising the price of chocolates key ingredient.

@FireEverLiving 4 месяца назад

Did somebody at CNBC really think that viewers wouldn't know what cocoa is?

@seanzyw.2603 4 месяца назад

This Administration screwed all of us over.

@IOSALive 4 месяца назад

CNBC, You're amazing! Let's be friends and hang out!

@IOSALive 4 месяца назад

CNBC, You're amazing! Let's be friends and hang out!

@mrwilliamwonder 4 месяца назад

Are you bored?

@RichManhattanite11 4 месяца назад

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 ❤❤❤❤

@afrofy2431 4 месяца назад

Pay fair market value 🫡

@RichManhattanite11 4 месяца назад

It’s a business 3:17 everything is a business even your pretty boy lips botttt

@RichManhattanite11 4 месяца назад

I want to buy gold ❤❤❤❤

@RichManhattanite11 4 месяца назад

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 ❤❤❤❤