Cocoa and vanilla crisis means bad news for ice-cream and chocolate lovers: Here’s why

Ice cream lovers are facing worrying times as the twin threat of a surge in the price of cocoa and Cyclone Gamane threaten to hike prices. Image: Pixabay

Ice cream lovers are facing worrying times as the surge in the price of cocoa and Cyclone Gamane threaten to hike prices.

According to the Bloomberg website, Madagascar’s vanilla-growing region has been badly affected by Cyclone Gamane, whose rain and high winds have flooded fields and stripped vanilla pods from their vines.

Georges Geeraerts, president of the Indian Ocean island’s union of vanilla exporters, said the deluge could halve the vanilla harvest.

“On a bad year, production is about 1 500 tons compared with a range of 2 000 to 2 500 tons,” Geeraerts said.

“A conservative estimate, ahead of more detailed analysis from the growing region, means that the output for the current harvest could be as low as 1,000 tons.”

CHOCOLATE EASTER EGGS SURGED IN PRICE

Meanwhile, West Africa’s cocoa producers have seen yields collapse from heavy rain and disease, more than tripling prices to as much as $10 000 (R187 000) per metric ton – as reported by The South African website.

Here’s what’s happened with the cocoa price so far this year:

• January 2024 – cocoa prices $4 200 (R80 000) per ton
• March 2024 – the first time that the cocoa commodity price has broken $10 000 per ton ceiling (R187 000)
• Pressure is due to poor harvests in cocoa-producing countries like Ivory Coast and Ghana
• West Africa is responsible for 70% of the world’s cocoa

The above factors have forced chocolate makers to raise prices for customers.

Those who recently spent time shopping for Easter eggs would no doubt have noticed the marked increase in the price of your favourite chocolate.