The world of cocoa is booming. Cocoa prices have risen dramatically, with all-time highs reached in London and New York. This surge in prices is mainly due to fears of shortages linked to production problems in West Africa. In 2024, the price of cocoa has already more than doubled, and this upward trend seems to continue. ( Sources : lesaffaires.com )
Variations in cocoa prices are often due to a combination of factors such as weather conditions, global demand and the economic policies of producing countries.
In April 2024, cocoa futures exceeded $10,000 per tonne, driven by global supply shortages, unfavorable weather conditions in West Africa, and increased investor speculation JP Morgan | Official Website ) .
Cocoa production in Ivory Coast, the world's largest producer, fell by 30% compared to the previous year, contributing to this price surge (Barchart.com ) .
Forecasts indicate that volatility may continue, with prices likely to reach even new highs in the coming months (confectionerynews.com ) .
Impact and repercussions of the increase in cocoa prices
This price surge has harmful economic and social consequences on the entire cocoa sector.
This increase has a direct impact on the prices of finished products . Chocolate makers and confectionery manufacturers, already under pressure, must juggle the need to maintain competitive prices for consumers and preserve their profit margins.
Consumers are also feeling the impact, with price increases on chocolate products and a possible threat to the availability of chocolate at affordable prices in the long term (Sources: actionconsommation.org ).
Where does Canada source its cocoa?
Canada, as a major consumer of chocolate, sources its cocoa from various parts of the world. Major suppliers of cocoa to the Canadian market include West Africa, South America and Asia.
Madagascar cocoa: a preserved treasure
Madagascar produces one of the best cocoa in the world, particularly appreciated for its white bean which produces tasty chocolate (Sources: voyagemadagascar.com ). Menakao chocolates and Chocolaterie Robert are examples of brands exploiting the finesse of Malagasy cocoa.
Cocoa from Madagascar is the only one to have obtained the “ fine cocoa ” label in Africa, which testifies to its exceptional quality (Sources: france24.com ). This cocoa, with its distinctive fruity and floral notes, is highly prized by chocolatiers and connoisseurs.
MATANA brings fine cocoa to Quebec and Canada
MATANA is a Quebec company that markets 100% natural and authentic products from Madagascar, for food processors and individuals. Its main objective is to make Madagascar knownfor its endemic and exceptional products. Its products are high quality with exceptional health benefits.
MATANA sells chocolates made in Madagascar, mainly the Menakao and Chocolat Robert brands. It also sells cocoa beans and 100% cocoa powder.
The current cocoa market situation is a challenge for producers, processors and consumers.
The world of cocoa is constantly evolving, and fluctuations in cocoa prices have a tangible impact on the products we consume every day. As informed consumers, it is important to stay informed and support initiatives that promote ethical and sustainable cocoa production.
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