Cocoa gets more expensive — will it affect prices in Azerbaijan?

11:29 - 15.04.2024

April 15, Fineko/ The prices of cocoa, used as the main raw material for chocolate production, have risen sharply worldwide.

ABC.AZ reports that according to experts, this increase will affect the prices of both chocolate and confectionery products in which this product is used.

This year there is still an increase in cocoa prices, which has doubled. In addition, global cocoa production is projected to decrease by about 8%.

Experts attribute the sharp rise in prices to several reasons.

Raw materials from other countries are needed for production of chocolate. In this regard, rising prices may have the greatest impact on firms that produce chocolate.

It is predicted that by autumn the price of cocoa may rise even more.