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Here's Why Coffee Prices Are Surging To Multi-Year High Here's Why Coffee Prices Are Surging To Multi-Year High
Here's Why Coffee Prices Are Surging To Multi-Year High Coffee prices have reached a multi-year high due to a number of factors, including a crop-destroying frost in Brazil. Fortune reported in July that the coffees trees in Brazil were impacted by a drought and two frosts, leading to the high prices. The country is the world's largest coffee producer, accounting for 40 percent of the world's output of the product, the news site reported. Prices for high-end beans used by some coffee chains increased more than 30% during this period, Fortune reported. COVID-19 restrictions in Vietnam, the world's second-largest coffee exporter, have also cause…

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by Nicole Valinote
News
Chocolate Price Hike Could Be Coming: 'Cocoa Cartel' Nations Agree On Increase Chocolate Price Hike Could Be Coming: 'Cocoa Cartel' Nations Agree On Increase
Chocolate Price Hike Could Be Coming: 'Cocoa Cartel' Nations Agree On Increase The “cocoa cartel” may be coming to cause the cost of chocolate to spike nationwide, according to reports. A new report from the Wall Street Journal found that two countries that control 60 percent of the worldwide cocoa supply - dubbed the “cocoa cartel” - may soon drive up the cost of chocolate products around the globe. The report states that the Ivory Coast and Ghana are teaming to charge hundreds of dollars more per metric ton of cocoa, which will be put in place later this year. The “cocoa cartel” is expected to charge approximately $400 extra per metric ton, a 16 percent increase. I…

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by Zak Failla