Sunday, March 20, 2011

Cocoa prices have increased dramatically

(NBC) - Some not-so-sweet news for chocolate lovers.

A standoff over the presidency in the ivory coast, has increased cocoa prices by as much as $800 a ton since November. 

On her first trip to a north Miami Beach chocolate shop and factory, everything seemed to catch Teresa Powierza eye. On her next trip, she could see something else. That something else, was a spike in prices.

Owner of Le Chocolateir Joseph Marmor says, "Chocolate companies, the major chocolate companies can only absorb this up to a point and then they'll start passing it on to us, the manufacturers, the small manufacturers."

Small manufacturers like Marmor. His shop makes sweets from about 2,500 pounds of chocolate a month. While he won't reveal what he pays for chocolate, he will talk percentages on cocoa beans.

"There's been a 30-percent jump in four months. Everything is made from cocoa beans: milk chocolate, dark chocolate, even white chocolate, which is cocoa butter which comes out of the bean."

Marmor says his store has to consider raising their prices, if the price hike comes to him.

(Source: http://www.wfie.com/story/14286631/cocoa-prices-have-increased-dramatically)

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