Cocoa prices reached a record high on Tuesday, with a tonne trading for over $10,000 (€9,212) for the first time on the New York futures market.
Cocoa prices have already doubled this year, and this surge is set to impact chocolate prices as well, especially in the run up to Easter.
The market for the prized beans is burgeoning due to adverse weather conditions and structural issues arising from ageing plantations. These factors have led to a significant decrease in harvests in West Africa, the main global production area.
Earlier this month, Queen Mathilde stated during a visit to Côte d'Ivoire, the world's leading cocoa producer, that "cocoa must become more sustainable" and that the sector should be "deforestation-free, without child labour, but through decent work conditions for producers."
