. Higher prices can be helpful for struggling cocoa farmers. But those prices, along with high prices of other key chocolate ingredients, might not be great news for sweets shoppers watching their budgets. So far this year, cocoa futures have risen about 21%. As is often the case, higher prices are being driven by demand exceeding supply. This season, cocoa yields are underwhelming, likely due to crop disease and heavy rains.
The increase in prices could offer some relief to struggling farmers. The Amsterdam-based Tony’s Chocolonely, a chocolate company that aims to reduce exploitation in the cocoa supply chain, is pleased to see prices go up. “We are very happy that cocoa prices are rising,” said Pascal Baltussen, chief of impact and operations at Tony’s. “Cocoa prices have been way too low for West African cocoa farmers to earn a living income.
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