fr.euronews.com
Record High Coffee and Cocoa Prices Amidst Severe Global Shortages
Global coffee and cocoa prices soared in 2024 due to severe supply shortages caused by adverse weather conditions in major producing countries, resulting in the worst cocoa deficit in over 60 years and record-high coffee prices.
- What are the primary factors causing the unprecedented price increases in global coffee and cocoa markets in 2024?
- Global coffee and cocoa prices surged in 2024 due to severe supply shortages. Cocoa prices increased by 167.89%, while coffee prices rose by 68.42%. This shortage is the worst in over six decades, resulting from poor weather conditions impacting harvests in major producing countries.
- How did adverse weather conditions and other challenges specifically affect cocoa and coffee production in key regions?
- The 2023-2024 cocoa season saw a 478 kt deficit, the largest in over 60 years, driven by adverse weather, crop diseases, and a slowdown in new plantings. Similarly, coffee production suffered due to droughts, wildfires in Brazil, and typhoons in Vietnam, exacerbating existing supply chain pressures.
- What are the long-term implications of these price surges and supply chain disruptions for the coffee and cocoa industries?
- While the 2024-2025 cocoa season shows potential for increased production in West Africa, uncertainties remain due to weather patterns and geopolitical tensions impacting trade. Emerging cocoa producers might mitigate shortages, but significant impact will take time. The record-high coffee prices reflect increased demand, particularly in China, coupled with persistent supply chain vulnerabilities.
Cognitive Concepts
Framing Bias
The article frames the price increases as primarily a result of supply chain issues, particularly adverse weather conditions impacting cocoa and coffee harvests. While increased consumption is mentioned, the emphasis remains on the negative impacts of supply shortages. This framing might lead readers to focus more on production challenges rather than considering a broader range of factors influencing prices. The headline (if any) would further emphasize this framing.
Language Bias
The language used is largely neutral and factual. The article uses quantitative data (percentage increases in prices, specific production deficits) to support its claims. However, phrases like "devastating impact" and "severe drought" might be slightly loaded but are not overly emotive.
Bias by Omission
The article focuses primarily on supply-side factors (weather, disease, etc.) affecting cocoa and coffee prices. While it mentions increased consumption (particularly in China for coffee), it doesn't delve into the specifics of demand-side factors, such as changes in consumer preferences or economic conditions that may influence demand. The lack of detailed demand analysis may offer an incomplete picture of price fluctuations.
Sustainable Development Goals
The significant price increases in cocoa and coffee, caused by supply shortages due to adverse weather conditions and other factors, threaten food security and access to essential goods, particularly for vulnerable populations who rely on these commodities as staple foods or sources of income.