Chocolate

• So it would be natural to expect the price of chocolate to soar, and to expect cocoa growers to get more.
• But, as surprising as it seems, my calculations suggest neither is likely, although we can certainly expect the price of chocolate to rise.
• The price of cocoa is soaring because intense heat and rains have hit harvests in West Africa.
• But it does mean the recent explosion in cocoa prices doesn’t explain much about what’s happened to the price of chocolate.

Higher prices no bonanza for growers

• Many of the 800,000 cocoa farmers in Ghana survive on just US$2 a day.
• The average cocoa farm in West Africa is just three to four hectares, producing less than one tonne per year.

Farmers don’t get futures prices

• And the higher futures prices might not last.
• If traders become less worried about prices going up, the current high futures prices could fall before they get fed into the prices paid to growers.
• As well, farmers get very little of the price – on one estimate only 6–7% of the price.
• I look forward to the day when a chocolate company says its prices are going up because it has decided to give the farmers who grow its cocoa a living income.

Darian McBain is affiliated with Be Slavery Free Australia.

• MALMÖ, Sweden, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Oatly Group AB (Nasdaq: OTLY)(“Oatly” or the “Company”), the world’s original and largest oatmilk company, today announced the launch of Oatly Oatmilk Creamers in the US, a new beverage innovation that joins the brand’s growing fluid portfolio aimed at inspiring increased use in coffee occasions.
• With plant-based creamers up 13% in dollar sales and 9% in unit sales, respectively, in the last 52 weeks1, Oatly believes this initial move into flavored creamers will unlock a strong opportunity to reach new and existing buyers.
• Shoppers can expect to find Oatly Creamers in the refrigerated aisle of retailers nationwide, including Walmart, Target, Albertsons, Kroger, Stop & Shop, and more, with a suggested retail price of $5.99.
• “As a company, we’re committed to converting cow’s milk drinkers into oatmilk buyers, so we’re excited to now offer fantastic, flavored creamers to people looking for a sweeter, more indulgent coffee experience.

• “Our strategic focus on core categories – chocolate, biscuits and baked snacks – has been instrumental in driving success across both emerging markets and developed markets like North America,” Van de Put said.
• The Company is continuing to reshape its portfolio to generate 90% of revenue through its core categories—chocolate, biscuits and baked snacks.
• The Company’s North American business, which accounts for more than 30% of total net revenue and nearly 40% of operating income, has transformed into a resilient, reliable driver of growth.
• Transforming North America to build a sustainable growth engine and successfully building a foundational operating and sales model that will become a resilient growth driver.

• In celebration of Easter, Lindt & Sprüngli (USA) Inc. announced today their first-ever GOLD BUNNY-inspired property rental, coined the Lindt GOLD BUNNY Getaway .
• View the full release here: https://www.businesswire.com/news/home/20240306613611/en/
  Enter Now for a Chance-to-Win a Magical Easter Weekend at the Lindt GOLD BUNNY Getaway.
• New to the Lindt GOLD BUNNY line-up this year are two new filled GOLD BUNNY varieties: Double Milk and Crispy Hazelnuts.
• The Lindt GOLD BUNNY Getaway beachside rental will be open for one weekend only: Easter weekend, March 29 – 31, 2024.