CNBC's is reporting on the connection between El Nino and the price of Halloween chocolate.
Cocoa prices have reached their highest since 1979 due to adverse weather conditions, particularly in West Africa, which produces a significant portion of the world's cacao. The cacao bean, essential for making cocoa, requires specific conditions to flourish, including consistent temperatures, high humidity, and ample rain.
These conditions have been disrupted this season, making the crop especially vulnerable to climate change. The ongoing El Niño weather phenomenon further exacerbates the situation, marking the second consecutive season of a cocoa deficit.
As a result, the cost of candy has surged, with prices this September being 7.5% higher than the previous year. While major chocolate manufacturers grapple with the price hikes, specialty chocolatiers like Dandelion Chocolate remain relatively shielded due to their premium sourcing, though they anticipate potential challenges in securing quality beans in the future.
The increased costs have led to not only pricier chocolates but also reduced sizes, disappointing consumers globally.
(This article was written with assitance from ChatGPT)