tr.euronews.com
Cocoa and Coffee Shortages Drive Record High Prices in 2024
Adverse weather conditions and disappointing harvests in major cocoa-producing countries like Ivory Coast, Ghana, and West Africa, coupled with wildfires and drought in Brazil and Vietnam, have caused a significant shortfall in cocoa and coffee production, leading to record high prices in 2024.
- How do geopolitical factors and global demand influence the price fluctuations of these commodities?
- \"The cocoa deficit is linked to crop shortages in Ivory Coast, Ghana, and West Africa, with stocks at a 10-year low. While the 2024-2025 season shows promise, West African weather will be decisive. Similarly, coffee's record high price is attributed to factors like wildfires and drought in Sao Paulo, Brazil, and a shortfall in Vietnam due to drought and typhoons, exacerbated by increased demand, particularly in China.\
- What are the primary factors contributing to the projected surge in cocoa and coffee prices in 2024?
- \"Cocoa and coffee are projected to be the top-performing commodities in 2024 following significant production shortfalls this year. Cocoa prices have increased by 167.89 percent, while coffee prices have risen by 68.42 percent. This is due to adverse weather conditions and disappointing harvests in major cocoa-producing countries, resulting in a 478,000-ton deficit, the worst in six years.\
- What are the potential long-term implications of climate change and supply chain vulnerabilities for the cocoa and coffee markets?
- \"Geopolitical uncertainties, including US-China trade tensions, add to the volatile commodity market outlook. Increased cocoa production in Latin America could alleviate the West African shortage, but its impact remains uncertain. Continued climate instability and the vulnerability of coffee and cocoa production to extreme weather pose significant long-term risks to global supply chains and prices.\
Cognitive Concepts
Framing Bias
The article frames the cocoa and coffee shortages as a significant and largely negative event, emphasizing the substantial price increases and supply chain disruptions. While it acknowledges positive signs for the future cocoa harvest, the overall tone and emphasis lean towards highlighting the current problems. The use of phrases like "en çok kazandıran emtia" (most profitable commodity) in the headline could be interpreted as focusing on the financial gains rather than the broader implications of the shortages for consumers and producers.
Language Bias
The language used is generally neutral, presenting facts and figures related to production, consumption, and price changes. While phrases like "olumsuz hava koşulları" (negative weather conditions) and "hayalkırıklığı yaratan hasat dönemleri" (disappointing harvest periods) could be considered slightly loaded, they accurately reflect the situation and are not overtly biased. The article does not use emotionally charged language or subjective opinions.
Bias by Omission
The article focuses heavily on the supply shortages of cocoa and coffee, mentioning negative weather conditions and harvest failures in producing countries. However, it omits discussion of potential actions taken or planned by governments or organizations to address these issues, such as subsidies for farmers, investments in drought-resistant crops, or international aid programs. Furthermore, while mentioning increased consumption in China, the article lacks analysis of other contributing factors to the price increase beyond supply chain issues and geopolitical factors. The article also does not mention any potential impact on consumers or the strategies businesses might be employing to handle the price increases.
Sustainable Development Goals
The article highlights a significant decrease in cocoa and coffee production due to adverse weather conditions, including droughts and wildfires. This directly impacts food security and availability, particularly in regions heavily reliant on these crops for sustenance and income. Reduced harvests lead to higher prices, making these essential commodities less accessible to vulnerable populations.