Tag #Lab-Grown Chocolate

What are the primary causes of the recent surge in cocoa prices, and what immediate impact is this having on the chocolate industry?

The soaring price of cocoa, exceeding \$12,000 per tonne in April 2024 (three times January's price), is driving chocolate makers to explore lab-grown alternatives. Mondelez International's investment in Celleste Bio, a company producing cocoa from cell cultures, exemplifies this shift, aiming to reduce reliance on rainforest-sourced cocoa. This price surge is due to poor climate and disease in West Africa, impacting 70 percent of global production.