A Look at Global Shortages & Prices.

In some circles, it is argued that a world without chocolate would be unthinkable. Our love for chocolate is profound in the UK, with some sources estimating that we consume almost 700,000 tonnes annually.

The UK opened its first Chocolate House in London in 1657. Historically further back, chocolate or more precisely cocoa was once used as currency by ancient civilisations like the Mayans and Aztecs, who considered it as a gift from the gods.

Today, Europe and the US produce vast quantities of chocolate, importing cocoa beans from tropical regions such as Côte d’Ivoire, Ghana, Indonesia, Ecuador, and Nigeria. However, according to ‘Trading Economics*,’ cocoa prices surged by 121.57% in 2024, reaching an all-time high of $12,261.00 or £9,626.29 per metric tonne in April this year.

There are several factors which have accounted for such huge increases in prices, unsurprisingly climate change has disrupted the delicate balance required for cocoa cultivation, coupled with the threat from diseases such as ‘Black Pod’ and also pests. All these mean lower yields which when combined are major contributors to the soaring prices we are seeing.

These contributing factors also lead to economic instability which may discourage farmers from investing in their farms for the future, leading to possible closer, resulting in the loss of intergenerational knowledge.

Deforestation for cocoa farming impacts ecosystems and biodiversity, exacerbating issues further. Sustainable farming practices, such as agroforestry, crop rotation, and organic fertilisers, are all crucial for maintaining soil health and reducing pests and diseases to help maintain production but of course, take time. Organisations such as ‘Fair Trade’ for example, work hard to promote fairer compensation and improved working conditions for farmers, to help ensure a more stable and sustainable cocoa supply.

At Traybakes, we understand the importance of our supply chains, which are essential for us to maintain the premium quality of our products, and we greatly value the efforts of the producers from whom we buy.

About Traybakes

Since 1990, Traybakes has crafted the finest, most indulgent treats, all lovingly handmade in small batches using traditional recipes passed down through generations. Our goal is to provide our customers with an authentic homemade look and taste that evokes nostalgia.

Based in Penrith, our dedicated team takes great pride in creating the highest quality confections, available throughout the UK in prestigious establishments. For more information, please call us at 01768 899888 or email us at sales@traybakes.com


*Source: https://tradingeconomics.com/commodity/cocoa