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FINANCE COMMODITY PRICES
Cocoa caps 2024 as biggest
commodity winner. It’s not
over
BY BLOOMBERG
December 22,20243t1.46AMGMTg
yet
economy
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latest news
living economy
Mt. Budeungsan
Geumhi Securities
Industry/Company
Employment/Start-up
international economy
economic general
Cocoa rose by 1659 points this year…Bitcoin returns surpassed
Original text of Dail scriptures
Article sent 2024-12-31 11314
Summary in sihat
2
@ {} door
Supply decrease due to abnormal weather phenomenon
Cacao is produced in West Africa, but production has decreased and prices have skyrocketed due to climate change and lack of chemical fertilizers.
Abnormal temperature phenomenon due to El Nino (a phenomenon in which water temperature rises near the equator)
We are suffering from diseases, and in the meantime, we are also relying on Russia, Belarus, and Ukraine for chemical fertilizers.
War disrupts supply chains
The prices of products containing Kakao are expected to increase in the future.
(There are also articles saying that it has already risen at the beginning of the year)
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Food groups develop taste
for cocoa alternatives
High commodity prices and sustainability concerns prompting investment
by likes of Mondelez into lab-grown versions
There is a high possibility that this will not be resolved in the long term.
Currently, the food industry is working to develop ingredients to replace cacao.
(The article says that the company that makes Oreo is experimenting with cell-cultured cacao?)