« Prev Next » Comments (3) Listen to Article Some cocoa farms are being destroyed by illegal mining The Kisses maker said duties on the commodity is expected to result in millions of dollars in extra costs Hershey is calling on the White House to exempt cocoa from tariffs as an escalating trade war could push chocolate prices even higher The Kisses and Almond Joy manufacturer told investors it expects tariffs to cost between $15 million and $20 million during the second quarter as the company works through existing cocoa inventories the Pennsylvania company said tariffs could increase costs by up to $100 million in the third and fourth quarters Hershey has “robust mitigation plans” in place to lower costs and reduce the impact of tariffs below that level "Cocoa cannot be grown in the United States and thus, we are engaging with the U.S. government to seek an exemption," Michele Buck, Hershey's CEO, said in prepared remarks tied to its first-quarter earnings Hershey is working with lawmakers and trade groups to convince the Trump administration on the tariff exclusion largely relies on the Ivory Coast and Ghana in West Africa In addition to a base 10% tax already in effect, President Donald Trump has threatened 21% retaliatory tariffs on the Ivory Coast Hershey said it not only faces exposure to imported cocoa but also on retaliatory tariffs put in place by Canada, which is an important player in cocoa processing "We've got the most effort focused on influencing government action using every lever at our disposal to get those tariffs changed particularly with respect to cocoa," said Steve Voskuil The tariffs are the latest challenge for confectionary companies as they struggle with high cocoa prices due to growing challenges from weather Hershey, Mondelēz International and others increased prices in 2024 to offset the run-up in costs for the ingredient While cocoa prices have come down from their record highs last year Get the free daily newsletter read by industry experts The CPG manufacturer wants to grow the product into a $1 billion hydration brand by building its presence in everything from energy to cocktails Health and Human Services Secretary Robert F wants companies to voluntarily remove or replace commonly used synthetic colors before the end of 2026 The free newsletter covering the top industry headlines Cocoa Processing Company Limited (CPC) has reported a net loss of $4.07 million for the second quarter ended March 31, 2025. The unaudited financial results, released last week, show an improvement from the $6.33 million loss posted in the same period last year.  Revenue rose to $12.74 million, up from $11.66 million in Q2 2024, driven largely by increased sales of cocoa butter and confectionery products. Cocoa butter sales jumped significantly to $4.57 million, compared to $1.14 million last year, while confectionery revenue climbed to $4.78 million from $3.87 million. However, CPC’s cost of sales remained a major concern, amounting to $13.49 million, though slightly lower than the $14.11 million recorded a year ago.  This contributed to a gross loss of $743,315 – a notable improvement from the $2.45 million loss in the same period last year, suggesting early signs of better cost controls. Operational challenges persisted. Although selling and distribution expenses fell to $189,486 from $295,153, administrative costs held firm at $1.48 million. Finance costs surged to $2.12 million, driven by high interest on loans and borrowings, which deepened the company’s net loss. CPC’s liquidity also came under pressure, with cash and cash equivalents dropping to $3.2 million from $4.35 million at the beginning of the quarter. The company attributed the cash outflow primarily to operational expenses and ongoing loan repayments. Looking ahead, CPC disclosed that it is in advanced talks with the African Export-Import Bank (Afreximbank) for an $86.7 million loan facility to restructure its debts and fund capacity expansion. Management anticipates that the agreement will be finalised by June, with disbursement starting in September 2025. In a bid to reverse its financial fortunes, the company has outlined a turnaround strategy. This includes a bio-waste energy project expected to cut utility costs by up to 40 per cent, as well as retooling its confectionery factory to increase production capacity. CPC also plans to diversify its revenue base through new product lines, such as handcrafted chocolates and rebranded instant drinking chocolate. Despite these recovery efforts, CPC continues to face considerable financial uncertainty. Its net assets per share fell into negative territory at $0.0008, down from a positive $0.0018 in 2024. The auditors raised material concerns about the company’s ability to continue as a going concern, citing its net liability position and dependence on external funding. Nonetheless, CPC’s directors remain optimistic. They cited ongoing support from COCOBOD for cocoa bean supplies and potential collateral arrangements with the Cocoa Marketing Company as stabilising factors. Our newsletter gives you access to a curated selection of the most important stories daily. Don't miss out. Subscribe Now. 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All rights reserved We’ve now figured out how to culture chocolate in the lab The breakthrough could help with spiralling cocoa costs and may even lead to tastier treats with more nutritional value By Michael Le Page It is by far the rarest and most exclusive chocolate I have ever eaten though – just a few flattened droplets a slightly lighter shade than most dark chocolate It smells like dark chocolate and tastes like it there is no doubt that this is the real thing That is important because what I am eating wasn’t made using cocoa beans sourced from trees like normal chocolate. Rather, it was grown in a glass flask by California Cultured one of several firms aiming to mass-produce chocolate in vats using cell culture technology Read more The surprising truth about the health benefits of snacking Cultured chocolate could be even better than the tree-grown kind, claims Alan Perlstein, CEO of the company, with higher levels of chemicals such as polyphenols that might have health benefits no contaminants such as heavy metals taken up from the soil or pesticides sprayed on crops and a taste that rivals anything on the market now “We’re trying to create flavours that are almost unobtainable through traditional chocolate manufacturing,” he says For many chocolate companies, however, the main appeal of getting raw ingredients from vats instead of trees is the potentially unlimited supply. Climate change is hitting cacao farms hard leading to shortages – the price of cocoa beans has quadrupled after remaining relatively stable for decades So, can chocolate grown in a vat really compete with the tree-grown variety on price Price of cocoa – chocolate’s key ingredient – has climbed over past year and tariffs on imports will keep prices high Lauren Aratani in New YorkSat 19 Apr 2025 12.00 CESTLast modified on Sun 20 Apr 2025 16.31 CESTShareFor many Americans celebrating Easter the holiday is incomplete without chocolate: chocolate bunnies and eggs candy hidden in plastic eggs for Easter egg hunts But rocketing cocoa costs will mean higher prices for chocolate candy this year and Donald Trump’s tariffs on all imports will likely keep prices high for the foreseeable future Every year, Americans spend billions of dollars on sweets during what the National Confectioners Association calls “the big four candy seasons”: Valentine’s Day But the price of chocolate candy specifically has been rising over the last year, largely because of the soaring cost of cocoa, the key ingredient for chocolate. In 2023, farmers in west Africa – where 70% of the world’s cocoa is harvested – started to struggle with climate-related crises Estimates put the cocoa deficit at more than 400,000 tons significantly inflating the price of cocoa over the last few years Cocoa has cost around $2,000 a ton over the last few decades This has led to chocolate prices soaring across the world. Hershey, the biggest chocolate producer in the United States, raised the prices of its chocolates last year, and ultimately struggled to maintain consumer demand. The company had its worst profit in seven years in 2024 “If you know you’re going to grill this weekend and chicken prices are high maybe you’re more likely to make hamburgers or pork chops rather than chicken breast,” Balagtas said “But chocolate-chip cookies without chocolate chips are a little tough.” Now, with Trump’s new tariffs in place, the price of chocolate is expected to rise even more. While economists don’t know exactly what the effects of tariffs will look like, the Yale Budget Lab estimates that tariffs could cost consumers $4,900 a year, with an average price increase of 3% across all goods. Chocolate prices will be no exception. When Trump introduced his latest slate of tariffs in early April, he had a direct message for American companies. “If you want your tariff rate to be zero,” he said, “then you build your product right here in America.” For many businesses deeply tied to the global supply chain, shifting manufacturing to the US is complicated and costly. For chocolate manufacturers, it’s impossible. The cacao plant, which produces cocoa, can only be grown in tropical climates, of which there are only two in the US: Hawaii and Puerto Rico. This means the vast majority of cocoa consumed in the US is imported. “The United States produces, I’m going to generously say, 100 tons of cocoa a year,” said Greg D’Alesandre, co-owner and chocolate “sourcerer” for Dandelion Chocolate in San Francisco. “We use about 120 tons of cocoa a year, and Dandelion is considered a very, very small chocolate maker. There’s no chance that [the US] can make all the cocoa that we actually need.” This means that chocolate makers big and small are affected by universal tariffs. Not only do chocolate producers have to worry about the high price of cocoa, but they also have to worry about inflation in other parts of their manufacturing process. “I’m more concerned about packaging prices,” said Oliver Holecek, owner of Primo Chocolate based in Troy, New York. “Most paper manufacturing happens in China, and there’s just really not a lot of great resources in the US yet.” Shipping prices could also be impacted by the tariffs, as congestion builds up at American ports as companies grapple with the new tariffs. It all adds up to an unstable environment, particularly for smaller chocolate businesses that don’t have the leverage and resources as bigger manufacturers. While Dandelion had to increase prices last year amid the rise in cocoa prices, D’Alesandre said it’s unclear how the company’s customer base will respond to further increases. “I’ve known three chocolate makers that have gone out of business over the last three years because there’s too much turmoil in pricing,” D’Alesandre said. “It’s very difficult to make a plan for it … we’re doing our best to make plans, but a lot of it is wait and see.” This article was amended on 19 April 2025. An earlier version omitted the unit of measurement when referring to the estimated cocoa deficit of more than 400,000 tons. iStock.com/JHVEPhotoChocolate giant Hershey said Thursday that it is “engaging” with the U.S government in hopes of exempting the key ingredient in its products — which cannot be grown in the U.S The company’s chief financial officer, Steve Voskuil, said it is “using every lever at our disposal to get those tariffs changed,” according to the Wall Street Journal. along with retaliatory tariffs imposed by Canada are the main sources of its exposure to them The company expects tariffs to increase its costs by $15 million to $20 million in the current quarter could jump to $100 million in the final quarters of the year Most of the world’s cocoa comes from West Africa; prices had already risen in recent years amid poor harvests in the region Jury selection began on May 5 in the trial of Karly Anderson, a former elementary school teacher charged in connection to a massive teen party that took place earlier this year Judge Kimberly Musselman and attorneys for the state and Anderson began the process this week of eliminating jurors who may have prior knowledge or not be impartial about the proceedings Defense attorney Kenneth Weaver at the May 5 jury selection emphasized that free speech rights under the Constitution were important to his client’s defense “This case is about free speech. The jury needs to be instructed that everybody has a right to free speech,” said Weaver, who previously told FLORIDA TODAY that Anderson was not present at the home when the party took place but rather out to dinner with Elizabeth Hill-Brodigan then-principal of Roosevelt Elementary School Anderson only arrived at the home after police called Hill-Brodigan to alert her that a party was being held at her residence Weaver filed a motion to dismiss all three charges on April 23, saying body cam footage that showed Anderson admitting to drinking at the party and shouting profanities at a Cocoa Beach police officer was accurate but that Anderson's actions "do not support any of the three charges as a matter of law." Anderson entered pleas of not guilty for all counts Anderson's trial comes less than four months after she was arrested in connection to the alcohol-fueled party at Hill-Brodigan's home was initially charged with child neglect and contributing to the delinquency of a minor The party and arrests garnered national media coverage with body cam footage circulating on social media in the following weeks Following the arrests, both Anderson and Hill-Brodigan were placed on paid administrative leave by Brevard Public Schools. But because Anderson was cleared of felony charges, she was allowed to return to the classroom in mid-April, this time at Saturn Elementary School in Cocoa She worked at the school for two days before being put back on paid leave with School Board Vice Chair Matt Susin saying the district had not previously seen body cam footage showing her shouting profanities at a Cocoa Beach police officer according to BPS Spokesperson Janet Murnaghan Hill-Brodigan was placed on unpaid leave after she was formally charged at the end of March with one count of child neglect five counts of contributing to the delinquency of a minor and one count of holding an open house party A trial date for Hill-Brodigan has not been set Several of the 24 initial jurors in Anderson's trial admitted to having prior knowledge of the case from consuming news media Multiple jurors said they had seen video of Anderson appearing to be under the influence of alcohol in various news reports and stated that it could impact their impartiality on the case Musselman told jurors she expected the trial to take no more than two or three days Tyler Vazquez is the Brevard County Watchdog Reporter at FLORIDA TODAY Contact Vazquez at 321-480-0854 or tvazquez@floridatoday.com recovering from a 3-1/2-year low hit on Friday that saw the sweetener fall below the 17-cent level white sugar and robusta coffee futures due to a local holiday in the United Kingdom * Raw sugar SB1! ​​settled up 0.27 cent having hit its lowest since July 2021 on Friday at 16.97 cents/lb * "The market appears to be finding some additional buying/short covering from Friday's performance," said the McDougall Global View Sugar Report * "The liquidity will be reduced as today the UK is closed China as well is closed and they are the ones that have been showing the buying interest," it said * Speculators' short position in sugar was little changed last week * Brazil's Copersucar, one of the world's largest sugar and ethanol companies, said on Monday it had reached a deal to sell and distribute ethanol produced at Green Plains' GPRE plants in the United States * New York cocoa CC2! ​settled down $359 * There is concern in the United States market that demand for chocolate could be hurt further by the 10% tariffs on imports of cocoa and cocoa products said Jack Scoville from The Price Group in Chicago * Demand has fallen due to the sharp price jump for cocoa last year amid falling production * Above-average rains in most of Ivory Coast's cocoa growing regions last week will help the development of young pods and boost output for the April-to-September mid-crop * Arabica coffee KC2! settled up 2.85 cents, or 0.7%, at $3.8825 per lb, having set a 2-1/2-month high of $4.1890 last week. * The market's focus remains on the upcoming harvest in top grower Brazil, with field work already going on in the robusta producing areas. The arabica harvest usually starts around May or June. * Two large U.S. coffee companies, Starbucks and Keurig Dr Pepper, reported falls in coffee sales in the first quarter as higher prices hit demand. © 2025 Barchart.com, Inc. All Rights Reserved. 1);}}@media screen and (prefers-reduced-motion: reduce){.css-wjxay9-SquareButton{transition-property:background-color;transition-duration:0ms;transition-timing-function:cubic-bezier(0 1);}}@media screen and (prefers-reduced-motion: reduce){.css-152q15n-SquareButton{transition-property:background-color;transition-duration:0ms;transition-timing-function:cubic-bezier(0 1);}}.css-x340e0-SquareButton{margin:0;padding:0;display:inline-grid;-webkit-column-gap:8px;column-gap:8px;grid-template-columns:repeat(3 1);}}@media screen and (prefers-reduced-motion: reduce){.css-x340e0-SquareButton{transition-property:background-color;transition-duration:0ms;transition-timing-function:cubic-bezier(0 1);}}.css-v6oqvx{margin:0;font-family:Lato,Helvetica,Arial,sans-serif;font-size:12px;line-height:20px;font-weight:700;letter-spacing:0px;font-style:normal;text-transform:none;font-stretch:normal;padding:0.5px 0px;}.css-v6oqvx::before{content:'';margin-bottom:-0.4973em;display:block;}.css-v6oqvx::after{content:'';margin-top:-0.4463em;display:block;}Listen said Thursday that it is working to reduce the impact of tariffs on already higher cocoa prices by negotiating with the White House to avoid an estimated $100 million in costs in both its third and fourth quarters this year All 5 Releases Please try using other words for your search or explore other sections of the website for relevant information Our team is working diligently to resolve the issue Thank you for your patience and understanding July ICE NY cocoa (CCN25) today is down -156 (-1.76%), and May ICE London cocoa #7 (CAK25) is down -98 (-1.52%) Cocoa prices today are trading sharply lower but remained above Wednesday's 1-week lows  Demand concerns are weighing on cocoa prices after chocolate maker Hershey Co reported today that Q1 sales fell -14% and said it anticipates $15-$20 million of tariff costs in Q2 which will boost chocolate prices and further weigh on consumer demand Mondelez International reported weaker-than-expected Q1 sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices Cocoa prices are also seeing negative carryover from Bloomberg's report on Monday that Nigerian Mar cocoa exports rose +24% y/y to 27,564 MT  Nigeria is the world's fifth-largest cocoa producer A rebound in current cocoa inventories is bearish for prices  Since falling to a 21-year low of 1,263,493 bags on January 24 ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 6-1/2 month high Wednesday of 2,036,303 bags NY cocoa posted a 2-1/4 month high on supply concerns as the pace of Ivory Coast cocoa exports has slowed  Monday's government data showed that Ivory Coast farmers shipped 1.5 MMT of cocoa to ports this marketing year from October 1 to April 27 up +12% from last year but down from the much larger +35% increase seen in December Cocoa prices also have a positive carryover from recent news that showed better-than-expected global cocoa demand  Q1 North American cocoa grindings fell -2.5% y/y to 110,278 MT better than expectations of at least a -5% y/y fall Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT a smaller decline than expectations for a -5% y/y drop Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT a smaller decline than expectations for a fall of at least -5% y/y Concern about the Ivory Coast's upcoming mid-crop is underpinning cocoa prices late-arriving rains in the region have limited crop growth and recent cocoa farmer surveys from the Ivory Coast and Ghana have been disappointing   The mid-crop is the smaller of two annual cocoa harvests  The average estimate for this year's Ivory Coast mid-crop is 400,000 MT and London cocoa dropped to a 5-month low due to concern that consumer demand for cocoa and cocoa products will decline as the global trade war escalates and tariffs boost already-high cocoa prices one of the world's biggest chocolate makers cut its annual sales guidance in the face of high cocoa prices and tariff uncertainty the International Cocoa Organization (ICCO) on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024/25  ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT cut its Ghana 2024/25 cocoa harvest forecast in December for the second time this season to 617,500 MT down -5% from an August estimate of 650,000 MT The ICCO on February 28 said the 2023/24 global cocoa deficit was -441,000 MT  ICCO said 2023/24 cocoa production fell -13.1% y/y to 4.380 MMT  ICCO said the 2023/24 global cocoa stocks/grindings ratio was 27.0% The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq This data feed is not available at this time These symbols will be available throughout the site during your session These instruments will be 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By connecting my portfolio to TipRanks Smart Portfolio I agree to their Terms of Use. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world A quality control specialist inspects cocoa beans at a processing plant in Abidjan With the country’s mid-crop harvest now underway, the quality of the beans is poorer compared to the same period in previous seasons, according to two grinders, who asked not be identified discussing private information. Grinders, many of which are also major exporters, are now rejecting truckloads of beans or facing higher costs to clean and sort them, they said. Reporting by Loucoumane Coulibaly; Editing by Ayen Deng Bior Recently falling cocoa prices were a relief to chocolatiers such as Hershey but Trump’s global tariffs will send prices skyrocketing again So Hershey is asking the White House for a tariff exemption for the volatile commodity since the first-quarter financial results were disappointing levy on cocoa is an exposure that we must manage on top of the cocoa market’s unprecedented recent price swings,” said Chairman/CEO Michele Buck said in the company’s first-quarter earnings report on May 1 “Cocoa cannot be grown in the United States and thus government to seek an exemption.” She didn’t elaborate The quarterly report predicted tariff expense “as understood today,” to be approximately $15-20 million in the second quarter The update noted easing prices in recent months “We are encouraged by the recovery in the 2024/25 cocoa crop,” Buck continued “The top three global cocoa markets are tracking to a 20% increase in supply this season High cocoa market prices are incentivizing investment in origins around the world Farmer prices have also increased in the Ivory Coast which should enable more investment in fertilizer There are reasons to believe that this year’s crop marks the beginning of a multi-year growth cycle in cocoa supply.” The chairman/CEO also noted that the company’s hedging strategies will help mitigate any sudden price jumps while “allow[ing] us to participate if cocoa markets retreat materially.” Despite being negatively impacted by tariffs on imported ingredients “As a largely domestic food producer we are relatively less exposed to tariffs than other industries.” Back to the quarterly results: Sales declined 13.8% to  $2.8 billion Both North American confectionery and international sales were down 15% but salty snacks eked out a 1% gain the company confirmed its outlook for the year with sales growth of “at least 2%,” but earnings per share dropping 30-40% Dave Fusaro has served as editor in chief of Food Processing magazine since 2003 Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories quoted in national newspapers and he authored a 200-page market research report on the milk industry Formerly an award-winning newspaper reporter who specialized in business writing he holds a BA in journalism from Marquette University Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods Please enable JS and disable any ad blocker Home » Home » JUST RELEASED: U.S Navy Blue Angels Scheduled to Perform at Cocoa Beach Air-Space Expo Coming April 2026 By Space Coast Daily  //  May 3 FLORIDA – The United States Navy Blue Angels are officially scheduled to headline the 2026 Cocoa Beach Air Expo bringing their world-renowned aerial performance to Florida’s Space Coast next spring Organizers announced that the elite flight demonstration squadron will perform during the weekend of April 11-12 will once again transform the beachfront into a prime viewing area for some of the most thrilling aviation displays in the world who have thrilled millions of spectators since 1946 will showcase their precision maneuvers in the powerful Boeing F/A-18 Super Hornets Their performance will highlight the Air Expo’s lineup which is expected to feature a range of military and civilian aircraft displays The 2026 show will mark the Blue Angels’ first appearance in Cocoa Beach since 2021 when they participated in the Space Coast International Air Show Thousands are expected to flock to the beaches to witness the high-speed passes and aerobatic feats that have made the Blue Angels one of the world’s premier aerial teams Local officials are working closely with event organizers to coordinate parking Founded shortly after World War II to inspire public interest in naval aviation the Blue Angels have performed for more than 500 million spectators worldwide Their appearance at the Cocoa Beach Air Expo 2026 will celebrate 80 years of the squadron’s history and excellence Click Here to Sign Up for Text Alerts Above-average rains in most of Ivory Coast's cocoa growing regions last week will help the development of young pods and boost output for the April-to-September mid-crop, farmers said on Monday. The world's top cocoa producer is in its rainy season, which officially runs from April to mid-November when rains are abundant and often heavy. Farmers said mid-crop harvesting was picking up with more beans now available for purchase. Excellent conditions, meanwhile, meant growers were drying more beans compared with the previous weeks. Cocoa growers said bean size was average and buyers were happy. They said the flow of cocoa leaving the bush would continue to rise through to late-June amid an abundance of nearly ripe pods. Farmers welcomed above-average rains in the western region of Soubre, the southern regions of Agboville and Divo, and the eastern region of Abengourou. Continued rainfall and adequate sunshine through next month would lead to more production in August-to-September compared with the same period last season, farmers said. "The cocoa is starting to come out well. But more harvesting is expected in August and September," said Kouassi Kouame, who farms near Soubre, where 30.2 mm fell last week, 4.5 mm above the five-year average. "If it starts raining heavily, the trees will be filled with large pods between August and September," said Desire Kesse, who farms near Bongouanou, where 21.7 mm fell last week, 1.7 mm below the five-year average. The weekly average temperature ranged from 27.5 to 30.4 degrees Celsius. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView This story has been updated to include additional information A Cocoa Beach teacher arrested in January in connection to an alcohol-fueled teen party — who has since resigned — now faces a third charge A court document filed on April 22 by prosecutors added the additional charge of resisting an officer without violence an officer of the Cocoa Beach Police Department while such officer was in the execution of legal process or in the lawful execution of a legal duty without offering or doing violence to the person of such officer," prosecutors wrote Anderson entered pleas of not guilty for all counts on April 23 filed a motion to dismiss all three charges saying body cam footage —  which showed Anderson admitting to drinking at the party and shouting profanities at Brown —  was accurate Judge Kimberly Musselman ordered the case to remain as previously set Both Anderson and Elizabeth Hill-Brodigan, then-principal of Roosevelt Elementary School, were arrested in January after a Jan. 19 house party attended by more than 100 teens took place at Hill-Brodigan's home, according to a police report. In interviews conducted following the party students told police that the party involved underage drinking the use of marijuana and fights between teens seen in Cocoa Beach Police body cam footage was discovered having an alcohol-related medical episode on Hill-Brodigan's front lawn and another was charged with driving under the influence as she left the party Students also said similar parties took place regularly at Hill-Brodigan's home Both women were present at the home, according to court records, and Brevard Public Schools placed them both on paid administrative leave immediately after the incident. Hill-Brodigan's leave was switched to unpaid leave in April after the state attorney's office formally charged her with one count of child neglect with School Board Vice Chair Matt Susin saying the district had not previously seen body cam footage showing her shouting profanities that (footage) was not afforded to us before yesterday afternoon and we accept the fact that we're going to be putting in the investigation," he said at an April 15 press conference "This is deplorable action; the entire thing is not acceptable to BPS standards." Susin added that the district was going to investigate whether or not Anderson took part in the party, something that Weaver has contested, telling FLORIDA TODAY that she and Hill-Brodigan had been out to dinner when police called to alert Hill-Brodigan to a party taking place at the home Anderson didn't supply any alcohol to any juveniles didn't have anything to do with it," Weaver said and the police made all kinds of assumptions." No trial date has been set for Hill-Brodigan Finch Walker is the education reporter at FLORIDA TODAY Contact Walker at fwalker@floridatoday.com * Raw sugar SB1! ​​was trading up 1.28% by 1525 GMT to 17.42 cents per lb having hit its lowest since July 2021 at 16.97 cents on Friday *"The liquidity will be reduced as today the UK is closed * Speculators' short positions in sugar were little changed last week * New York cocoa CC2! was down 4.1% at 1525 GMT to $8,515 a metric ton * Arabica coffee KC2! was gaining 1.2% at $3.9005 per lb at 1525 GMT, having set a 2-1/2-month high of $4.1890 last week. CC1!Cocoa futures eased slightly around $8,800 per tonne, as traders assessed the supply outlook in the key producing region of West Africa. Latest data showed cocoa arrivals at ports in top grower Ivory Coast had reached 1.536 million metric tones by May 4 since the start of the season on October 1, up 11.4% from the same period las season. At the same time, ICE-monitored cocoa inventories held in US ports have been increasing since late January and climbed to a 7-month high of 2,076,132 bags. by May 2nd. However, dealers highlighted quality concerns over the Ivory Coast mid-crop, which is currently being harvested. Cocoa processors have rejected truckloads of Ivory Coast beans, reporting 5–6% of mid-crop cocoa as poor quality, compared to just 1% in the main crop. Some of the world's largest food companies have signalled chocolate prices will rise Large food manufacturers are trying to balance rising chocolate and cocoa prices with inflation-weary shoppers they've lifted prices in most markets Mondelez and Hershey's signalled more prices rises may be coming in 2025 Link copiedShareShare articleSome of the biggest food companies in the world have signalled they'll lift prices this year to counter historically high coffee and cocoa prices Mondelez and Hershey's indicated that prices may rise in 2025 were approaching the limit of how much they're prepared to pay for non-essential items companies have been presenting their financial results for the first quarter of 2025 and sharing their estimates for how much money they'll make in the coming year the concern about the impact of the US President Donald Trump's tariffs was weighing on consumer sentiment in the US Prices for coffee and cocoa have soared in recent years as crop disease and poor growing conditions have limited supplies in markets with strong where crops are concentrated in north-west Africa prices started rising in early 2024 and have been at historically high levels ever since Hershey's CEO Michele Buck was hoping the cocoa market's retreat from its 2024 peak would be sustained and that cocoa farmers could reap the benefits of the higher prices "The top three global cocoa markets are tracking to a 20 per cent increase in supply this season," she said "High cocoa market prices are incentivising investment in origins around the world farmer prices have also increased in the Ivory Coast which should enable more investment in fertiliser and other techniques to improve yields." This year droughts are pushing coffee prices to record highs but climate change means it's unlikely we'll ever see a return to the $3 flat white the parent company of Australia's Cadbury I think quite frankly it is nirvana for us," Mondelez International CFO Luca Zaramella said as opposed to cocoa powder — cocoa butter prices are already coming down for 2026." Mondelez Australia makes Cadbury products in Tasmania In negotiations with stockists and retailers owner of the popular coffee-pod brand Nespresso we have seen unprecedented cost inflation in coffee and cocoa," Nestle CEO Laurent Freixe said Nestle CFO Anna Manz told investors the company was passing those costs on to suppliers and retailers keep in mind that our consumers purchase Nespresso less frequently than our other categories so it will take a while to see the consumer impact of the price increases," Ms Mans said said it was responding to rising costs through price increases and diversifying its packaging "And that doesn't necessarily mean all downsizing," CEO Dirk Van de Put said "It means that we will offer a whole range of pack sizes to the consumer and so the consumer certainly has many more options as it relates to price points they would like to buy our products."  Does your weekly shop feel a little lighter or smaller Mr Van de Put said the company was waiting to see how consumers would respond to the higher prices it has negotiated He said the company lifted its prices in Australia in 2024 very low cross-substitution happening," Mr Van de Put said Mr Van de Put said he was "very happy" with growing sales in Australia and Brazil A spokesperson for Mondelez International confirmed that from May Australian shoppers would see "further price and packaging adjustments on selected products" and the introduction of a 100g Cadbury block Companies have also been investing in celebrity partnerships encourage shoppers to hand over their money Mondelez said a partnership with musician Post Malone had delivered a sales boost in 2024 and it was hoping a similar deal with Selena Gomez would deliver in 2025 Hersheys touted an upcoming activation with the Pokemon brand as well as a new "Shaq-a-licious" gummy it hopes will woo consumers this year many of the big companies highlighted weakening consumer sentiment over the first three months of the year macroeconomic uncertainty has made for a challenging environment with consumer confidence fragile," Nestle's Ms Manz said Ms Manz said consumers had responded to higher prices by delaying purchases The initial reaction was a bit more muted because consumers in the UK generally have a spare bottle of Nescafe in the cupboard "And so they delay their purchasing action while they wait to see how prices play out and how that moves," Ms Manz explained Mondelez saw poorer consumer sentiment play out through declining sales of its snacks Mondelez executives described a drop in cocoa prices as "nirvana" for the company "I think what's going on is that the consumer feels very uncertain about the future they're trying to prioritise essential items "If you look at the snacking categories are down versus last year in volume." Hershey's estimates the US's tariff policy will cost the company around $US15-20 million. Among the key cocoa growing regions, US tariffs range from 10 to 47 per cent. "The current US levy on cocoa is an exposure that we must manage on top of the cocoa market's unprecedented recent price swings," Mr Buck said. "Cocoa cannot be grown in the United States and thus, we are engaging with the US government to seek an exemption." In Donald Trump's world, deficits are always bad and surpluses are always good. But it ignores how the US economy has powered its way to global domination. Without an exemption, or a reversal of the tariff policy, Hershey's CFO Steve Voskuil estimated even higher costs for the company later in the year. "The unmitigated impact could be up to $US100 million per quarter for Q3 and Q4," he said.  "If you break that down, two-thirds of it are either cocoa or the Canadian retaliatory tariffs." Nestle and Mondelez both predicted the impact of tariffs to be minimal on their overall business, as their diversified range of products are mostly manufactured inside the US. "In the tariff environment, we've got that unique position that we make where we sell," Nestle CEO Laurent Freixe said. "We produce essentially local for local. And you look at our three big geographies — US, Europe, China — more than 90 per cent of what we sell is produced locally." Mr Zaramella said the tariffs were causing a "small and manageable impact" for Mondelez in the US. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time) Home » Home » WATCH: Cocoa Beach Weekend Surf & Weather Report with Nikki McCoy Freeman By Space Coast Daily  //  May 2 ABOVE VIDEO: Cocoa Beach Weekend Surf & Weather Report with Nikki McCoy Freeman Let’s dive into your Cocoa Beach surf and weather forecast for this weekend Friday’s bringing us a mix of clouds and sun Surf’s looking to be in the 1-2 ft range—knee to thigh high Winds will be from the southeast at 5 to 10 mph Saturday’s forecast is partly sunny and pleasant Winds will be from the south-southeast around 15 mph Tip of the day: Grab your longboard and hit the waves early to avoid the chop Sunday brings more clouds with a chance of showers and thunderstorms Morning winds from the southwest around 10 mph will shift to the south-southeast later making for semi-clean conditions early on so you might want to Consider an early session to catch the cleaner conditions before the weather turns That’s your weekend surf and weather update for Cocoa Beach Whether you’re catching waves or just soaking up the sun Don’t forget your sunscreen and stay hydrated And hey — if you’re dreaming of calling the Space Coast home or maybe you’re thinking about selling while the market’s still hot I’m Nikki Freeman with McCoy Freeman Compass — your local real estate expert Let’s connect and make your beachside dream a reality Reporting by Paolo Laudani and Isabel Demetz in Gdansk Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Complete digital access to quality analysis and expert insights complemented with our award-winning Weekend Print edition Terms & Conditions apply Discover all the plans currently available in your country Digital access for organisations. Includes exclusive features and content. See why over a million readers pay to read the Financial Times. Explore local sea level rise and coastal flooding risks worldwide with maps that use the most advanced available global model of coastal elevations. Excessive heat is one of many factors that can affect cacao growth and global chocolate supplies Climate Central analysis found that human-caused climate change is bringing more excessive heat to West Africa which produces 70% of the world’s cocoa — the main ingredient in chocolate Climate Central analyzed how human-caused climate change has affected the frequency of daily maximum temperatures above cacao’s optimal growth range (90°F) in Cameroon and Nigeria over the past 10 years (2015-2024) Climate change added about 40 days per year with maximum temperatures above 90°F in cacao-growing regions of Côte d'Ivoire and Ghana which together account for over half of global cocoa production changes in rainfall and insect-borne infections can also affect cacao growth and local economies and livelihoods in cocoa-producing regions Cocoa — the main ingredient in chocolate — is produced from the bean pods of cacao plants. Cacao thrives under specific ranges of temperature and rainfall Warm to hot temperatures up to 90°F (32°C) are optimal for cacao growth Temperatures above this range can reduce the quality and quantity of harvests and climate change is bringing more excessive heat to major cacao-growing regions That’s according to new analysis using Climate Central’s Climate Shift Index (CSI) Climate Central analyzed how human-caused climate change — due primarily to burning oil and methane gas — has affected the frequency of daily maximum temperatures above 90°F in West Africa’s cocoa belt over the past 10 years (2015-2024) This analysis used observed temperature data as well as estimates of counterfactual temperatures (temperatures that would have occurred in a world without human-caused climate change) derived from the Climate Shift Index (CSI) system (see Methodology for details) This analysis focused on 44 major cacao-growing regions across the world’s top four cocoa-producing countries: Cameroon and Ecuador are other major cocoa producers human-caused climate change has increased the frequency of cacao-limiting heat (maximum temperatures above 90°F) across West Africa’s cocoa belt climate change added about 40 days per year with daily maximum temperatures above 90°F an average of 18 and 14 additional days per year of cacao-limiting heat because of climate change Most (28 out of 44) of the cacao-producing areas analyzed experienced at least six additional weeks worth of cacao-limiting heat each year due to human-caused climate change Read Climate Central’s report, Climate change is heating up West Africa's cocoa belt Shifting rainfall patterns can further strain cacao growth. Adequate and well-distributed rainfall is crucial for cacao plants — which grow best when annual rainfall totals are between 1,500 and 2,000mm (59 and 79 inches) with dry spells lasting no longer than three months Changes in rainfall account for much of the year-to-year variation in production, such as in 2024 when inconsistent rainfall patterns led to a globally-felt cocoa price hike Climate change is projected to increase large and/or frequent transitions between very dry and very wet conditions across many parts of the world the changing climate is a significant factor that directly harms the lives and livelihoods of cocoa farmers Adaptations can help cocoa farmers respond to changing conditions, but they cannot fully prevent challenges and disruptions in the production of cocoa. Adaptations include breeding plants that are more resistant to heat and drought planting taller trees among cacao to create shade and shifting production to areas where future conditions are likely to be suitable for small-scale cacao farmers to implement adaptations that may be expensive Christian Bunn, PhDScientist IIAlliance of Bioversity International and CIATRelevant expertise: adaptation to climate change in cocoa value chainsContact: c.bunn@cgiar.org*located in CET* Submit a request to SciLine from the American Association for the Advancement of Science or to the Climate Data Concierge from Columbia University These free services rapidly connect journalists to relevant scientific experts Browse maps of climate experts and services at regional NOAA Explore databases such as 500 Women Scientists, BIPOC Climate and Energy Justice PhDs, and Diverse Sources to find and amplify diverse expert voices Reach out to your State Climate Office or the nearest Land-Grant University to connect with scientists Climate Central analyzed observed temperatures using ERA5 reanalysis temperature data this analysis utilized counterfactual temperatures or the temperatures that would have occurred in a world without human-induced climate change These are estimated using Climate Central’s Climate Shift Index (CSI) system we split each year from 2015-2024 into two seasons corresponding to cacao production: the main crop cycle (October-March) and the mid-crop cycle (April-September) We then counted the number of days each crop cycle when the daily maximum temperature exceeded 32°C (89.6°F) over the ERA5 and counterfactual temperatures from 2015-2024 and calculated the difference to determine how many additional days above 32°C were caused by climate change See Climate Central’s report, Climate change is heating up West Africa's cocoa belt, for the full methodology. Get updates, media alerts, and climate reporting resources Support our work There are lots of ways to help fund Climate Central today Learn more The price of cocoa trading in New York is down about 2% after Pennsylvania-based Hershey said that its chocolate sales in this year’s first quarter declined 14% and that it is bracing for a $20 million cost increase from import tariffs in the current second quarter Hershey’s management team said they have no choice but to pass the cost increase onto consumers hurting demand at a time when chocolate prices were already near record highs reported weaker-than-expected first-quarter sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices Cocoa prices are currently at $8,700 per ton the lowest level since April 18 of this year The price had been above $10,000 a ton to start the year Shortages of cocoa crops in Africa due to climate change and poor growing conditions had pushed prices to all-time highs at various points over the past 12 months data now shows that the global supply of cocoa might finally be rebounding The latest market data shows that Nigerian cocoa exports rose 24% year-over-year to 27,564 metric tons in April Nigeria is the world’s fifth-largest cocoa producer A rebound in cocoa shipments and inventories is bearish for prices with deliveries also rising from the Ivory Coast in Africa The International Cocoa Organization (ICCO) in February of this year forecast a global cocoa surplus of 142,000 metric tons for 2025 Disclaimer & DisclosureReport an Issue Cocoa prices are lower on demand concerns following weak quarterly financial results from chocolate giant Hershey Co. (HSY) and snack company Mondelez International (MDLZ) Disclaimer & DisclosureReport an Issue The companies say consumer demand is softening amid economic uncertainty This article will delve into the top 10 cocoa-producing countries across the globe highlighting their contributions to this thriving industry stands in a league of its own as the world's biggest supplier of cocoa beans with exports valued at $3.33 billion in 2023 while cocoa paste accounts for 12% and cocoa butter for 7% The industry has a wide network of stakeholders including 200,000 farmers in the Cocoa Life community a network dedicated to building partnerships and new initiatives for the betterment of all stakeholders the West African nation has dealt with a wide array of geopolitical challenges and the effects of anthropogenic climate change the overall situation remains stable and conducive to continued production growth An October report from 2024 highlighted a bullish 10% increase in the harvest forecast for 2024-2025 which involves assessing the number of cocoa pods on trees during a specific period Second on the list is Ivory Coast's neighbor the total export value of Ghana's cocoa production reached $1.17 billion based on figures from the World Integrated Trade Solution cocoa is an integral part of their economy and livelihoods a famous aphorism in Ghana is: "Ghana is cocoa cocoa is Ghana." With as many as 800,000 people directly or indirectly involved the outlook for Ghana's cocoa industry is mostly positive Ghana faces challenges such as climate change and volatility in prices Given the recent warmer-than-usual weather and inadequate rainfall industry experts lowered Ghana's production output by five percent in September Thanks to increasing involvement from local farmers and other stakeholders, Indonesia has become a key player in the global cocoa market over the last few decades the country produced 641,741 tons of cocoa with exports reaching a value of $47 million over 31,000 farmers engage in the cultivation of cocoa beans via the Cocoa Life program which has been active in the country since 2013 The majority of production occurs in five primary regions: Sulawesi Indonesia only began producing cocoa on an industrial level in the 1970s so the lack of knowledge compared to other nations with more experience remains a challenge the industry looks ready to meet the challenge and the future outlook for the Indonesian market is expected to steadily increase experts estimate that Indonesia may produce 836,000 metric tons of cocoa Ecuador may produce less cocoa than giants like Ghana and Indonesia but its cocoa industry is a cornerstone of the national economy and holds a unique place in the global market with around 150,000 families involved in cultivating the prized red-brown beans Many of these farmers live in rural areas across the Andes and Amazon regions where the unique geography gives Ecuadorian cocoa its distinct floral flavor This characteristic taste has earned the country 65% of the global market share of fine aromatic cocoa The renowned Nacional variety is especially sought after for its complex flavor and high quality With rising global demand for premium cocoa Increased investments and growing domestic demand are set to boost production in the coming years further cementing Ecuador’s reputation as a leader in fine cocoa exports and its farmers' dedication and sustainable practices have earned global recognition Brazilian cocoa was honored at the Cocoa of Excellence Awards in Amsterdam a prestigious accolade celebrating producers who prioritize sustainability While Brazil's cocoa production has declined since its peak of 430,000 tons in the 1980s the country remains a key player in the global market In 2023, Brazil produced nearly 300,000 tons of cocoa challenges such as limited access to capital and the effects of climate change continue to impact growth Brazil’s resilient farmers remain optimistic With continued investment and favorable conditions experts believe the country can reach 400,000 tons of production by 2030 without any unforeseen problems Cameroon has long benefited from an ideal climate for cocoa cultivation, producing 295,819 tons in 2023. However, unlike some of the larger producers on this list, Cameroon exports a smaller share of its total output as much of its cocoa is processed domestically or sold within regional markets The quality of Cameroon's cocoa has steadily improved over the years with large portions classified as Grade I—a significant upgrade from previous concerns about bean quality Most of Cameroon's cocoa production is concentrated in the central and southwest regions which account for over 40% of the country's total output Cameroon has implemented a comprehensive roadmap focused on maximizing efficiency and engaging more collaboratively with stakeholders While challenges like infrastructure and market access persist Cameroon’s cocoa industry is showing steady progress with producers aiming to boost exports and expand their global footprint in the years ahead Nigeria's cocoa producers are on a roll, reaching a production of 284,232 tons in 2023. Production also saw a boost of around 10% in 2024 as a result of conducive weather in the southwestern area. And investors are noticing the uptick, which may increase capital investment in the sector. The forecast for Nigeria's cocoa economy may rise to $25 billion if global demand continues to increase and farmers are able to produce reaching a value of nearly $700 million in 2023 and climate change could jeopardize this goal if left unaddressed Another issue gaining attraction is the presence of illegal trade networks where cocoa plantations are being established in protected areas Undercover markets may ostensibly aid the supply side but it could also erode trust in the industry and deter potential investors Peru exported approximately $225 million worth of cocoa beans in 2023 and produced 166,708 tons making it the eighth-largest producer in the world as Indigenous communities here have been credited for crafting cocoa drinks as early as 1900 BC Given the expansive size and unique characteristics of the Amazon cocoa crops yield a wide variety of flavors including fine varieties like Theobroma cocoa which can be described as having an earthy and/or fruity flavor Other variations of the bean offer aromatic flavors adding to the rich diversity of Peru's cocoa industry and soil degradation could hinder Peru's ability to produce cocoa on a greater scale the Peruvian cocoa export is projected to increase by 2-5% from now until the end of the decade With a production of 65,930 tons in 2023 and exports valued at $192 million the Dominican Republic’s cocoa industry remains a vital part of the country’s economy providing livelihoods for over 35,000 families and 40,000 farms Cocoa has a long history here; it was introduced in the 17th century and gradually gained momentum by the 19th century While the Dominican Republic may not match the output of giants like Côte d'Ivoire and Ghana it has carved out a niche as a leading supplier of premium The island nation’s favorable climate, rich soil, and skilled farmers contribute to the high-quality beans sought after by chocolate connoisseurs worldwide. This focus on organic production has given the Dominican Republic a strong reputation in the global market production is projected to rise by 4.4% through 2029 All maps, graphics, flags, photos and original descriptions © 2025 worldatlas.com This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. You can email the site owner to let them know you were blocked. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. is causing hotter temperatures to become more frequent in the four West African countries responsible for producing approximately 70% of the world’s cacao — the key ingredient in chocolate Analysis of daily maximum temperatures during the past decade shows that climate change added at least three weeks above 32°C (89.6°F) annually during the main cacao crop season (October-March) in Côte d'Ivoire and Ghana Such temperatures are above the optimal temperature range for cacao trees climate change added just over two weeks above 32°C* annually during the main crop season in Cameroon and more than one week in Nigeria human-caused climate change added six weeks’ worth of days above 32°C in 71% of cacao-producing areas across Côte d'Ivoire such as precipitation and insect-borne infections excessive heat can contribute to a reduction in the quantity and quality of the harvest — potentially increasing global chocolate prices and impacting local economies in West Africa *These days are estimated using Climate Central’s Climate Shift Index (CSI) system Download data (.xlsx) for 44 districts Download report Major funding provided by the Bezos Earth Fund But farmers have never been given their fair share of the revenueImage: DANIEL MUNOZ/AFPAdvertisementOliver Coppeneur, a chocolate maker from Bad Honnef in Germany, has been in the business since the 1990s he's struggling due to rising prices for a key ingredient of his treats: cocoa he had to raise the prices of his chocolates like many other chocolatiers across the world.   Coppeneur told DW that the current surge in cocoa prices will make "chocolate products equally costly," which could eventually result in a "significant decrease in volume" on the market he's coping without laying off parts of his workforce and wants to keep prices for his chocolates stable.  About 65% of the world's cocoa beans come from four West African countries — Ivory Coast, Ghana, Nigeria, and Cameroon.   At the heart of the current spike in cocoa prices is a major shortage of cocoa beans A catastrophic 2024 harvest hit plantations all over West Africa It was caused by the so-called cocoa swollen shoot virus (CSSV) which spreads from tree to tree and can reduce crop yields by 50% in just two years A report by the International Cocoa Organization showed that 81% of plantations in Ghana — the world's second-largest cocoa producer after Ivory Coast — is infected with CSSV As the disease is also spreading in the Ivory Coast about 60% of the world's cocoa production is affected Moreover, US media nonprofit organisation Climate Central has reported that "climate change is causing hotter temperatures to become more frequent" in places such as Ivory Coast New Jersey-based science outlet shows that temperatures above 32°C (90°F) could reduce the quality and quantity of harvests which is why excessive heat would adversely affect major cocoa-growing regions Additionally, the so-called El Nino weather phenomenon led to a wetter rainy season than normal in Western Africa last year news agency Bloomberg has reported that "at least a dozen family-owned chocolatiers have closed down across Europe" in 2024 Hussel and Eilles filed for bankruptcy protection in 2024.  the cocoa shortage is also being directly felt by European consumers with chocolate prices rising by 35% since 2020.   But Friedel Hütz-Adams, a researcher at the SÜDWIND Institute in Bonn said European chocolate manufacturers have "generally been able to pass on rising cocoa prices."  "Their stable profits last year indicate that at least the large companies have managed to cope with high prices .. and in some cases even managed to achieve higher profits than before," he told DW.   the creator of TheChocolateLife — an online community for "chocophiles & aspiring chocophiles" said in an email statement: "Chocolate has been a recession-proof food." He claims on the platform's website that  "people buy chocolate to make themselves happy." and said that current "relatively stable sales" are an indication that "customers are able to cope with the higher prices and continue to buy chocolate."  the majority of farmers in West Africa had "barely any resources to implement good agricultural practices," which led to a decline in crop yields per hectare Persistently low cocoa prices in previous years, he said, led to workers often not being paid and widespread child labor. "Massive human rights violations are commonplace and could decrease in the future due to higher prices," Hütz-Adams added.  Higher cocoa prices raise standard of living in CameroonTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Chocolatier Oliver Coppeneur also thinks that the price of cocoa has been so low over the decades that farmers haven't had the resources to boost their output he warns that without investment in higher yields and crops that are resilient to climate change cocoa price swings are inevitable in the future.  "The next generations [of farmers] have to ask themselves: 'Do we want to continue this job at all do we want to continue working on the farm?,'" said Coppeneur adding that if chocolate companies don't invest in cocoa farmers "we shouldn't be surprised if the next generation has none left." July ICE NY cocoa (CCN25) Tuesday closed down -51 (-0.57%), and May ICE London cocoa #7 (CAK25) closed up +27 (+0.43%)  Cocoa prices were under pressure Tuesday due to a negative carryover from Monday when Bloomberg reported that Nigerian Mar cocoa exports rose +24% y/y to 27,564 MT London cocoa erased early losses Tuesday and posted moderate gains as weakness in the British pound (^GBPUSD) sparked short-covering in London cocoa boosting cocoa that is priced in terms of sterling ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 6-1/2 month high Monday of 1,987,423 bags Smart Portfolio is supported by our partner TipRanks. By connecting my portfolio to TipRanks Smart Portfolio I agree to their Terms of Use 2025 3:02 PM EDTBeloved candy maker Hershey's is set to take a hit as a result of anticipated tariffs According to a report from the Wall Street Journal Hershey's posted falling earnings in the first quarter of 2025 The company logged a profit of $224.2 million The confectionary giant reportedly anticipates tariff costs between $15-20 million in the second quarter said in a conference call with Wall Street analysts that it is doing everything it can to work with the Trump administration to get cocoa exempted from the tariffs since it can not be grown domestically.  The company is estimating a potential $100 million in costs in the third and fourth quarters if they can't work things out “We’re going to use, aside from the lobbying and the influencing and so forth, really, every lever in the toolbox for whatever amount of tariffs remain as we go forward in the back half of the year,” Chief Executive Michele Buck said, via Market Watch is still expecting sales to increase at least 2% and adjusted earnings to drop about 35% "The impact of US levies was only taken into account for the second quarter, which runs through June," Yahoo Finance wrote President Donald Trump's 90-day pause on tariffs is set to expire in July You can find Hershey's entire Q1 2025 report right here. By Andrew HolleranAndrew Holleran is a trending news writer on Men's Journal. He's covered sports and pop culture for more than a decade, working with sites like The Spun, Rivals.com, and more. Reporting by May Angel and Marcelo Teixeira; editing by David Evans and Shreya Biswas Dubai chocolate is a rare combination of creativity flavours and social media success that has broken all industry records but the festive tunes and the twinkling fairy lights at the Marienplatz Christkindlmarkt (Christmas market) lifted my spirits With a mug of glühwein (hot mulled wine) in hand I made my way to the candy stall to get my usual supply of German Christmas cookies But I stopped in my tracks when I realised that the longest queue was not for lebkuchen (gingerbread biscuits baked for Christmas) or the traditional stollen fruit bread but for a new kid on the block: Dubai chocolate A decadent milk chocolate bar filled with silky pistachio cream, earthy tahini and crunchy shards of knafeh pastry, the original Dubai chocolate was launched by Dubai-based FIX Dessert Chocolatier in 2022 when its British Egyptian founder had an urge to create something unique to satisfy her pregnancy cravings for knafeh and pistachio FIX called their creation "Can't Get Knafeh Of It" Can't Get Knafeh Of It took the world by storm when TikTok influencer Maria Vehera posted a rapturous video of herself trying the chocolate bar inside her car in December 2023 attracting more than 125 million views and scores of fans around the world who were willing to do anything to grab a bite The bar became a craze and was promptly christened "Dubai chocolate" have inundated supermarkets and neighbourhood bodegas all over the world the Dubai chocolate craze has shaken the global chocolate industry This has opened up a whole new market for artisan confectioners worldwide, including the renowned Maison Samadi in London a UK chocolatier with roots in Lebanon dating to 1872 was the first to introduce their version of the viral Dubai chocolate bars named "Dubai Viral Style Chocolate" in London business development director at Maison Samadi making Dubai Viral Style Chocolate was a natural segue in their chocolate-making journey "We were already working on our heritage collection when we discovered the viral Dubai chocolate It fitted perfectly because it combined a beloved Middle Eastern dessert which was a tribute to the Samadi family heritage BBC.com's World's Table "smashes the kitchen ceiling" by changing the way the world thinks about food food lovers have relished knafeh on its own Dubai chocolate allows them to sample this well-known dessert inside a chocolate shell making the experience even more intriguing and exciting "The real success of Dubai chocolate stems from its texture," agrees leading Turkish food writer Aylin Öney Tan "The velvety gooeyness of the pistachio cream doesn't just feel good on your palate; it is also visually attractive the crunchy texture of the kadayif pastry from the knafeh makes the dessert even more irresistible." It was born to be a champion – Nabil Chehab"Having Dubai in the name also adds to the chocolate's popularity and hype," says Naval Similar "feelings of indulgence drive the success of Dubai chocolate," she adds Dubai chocolate's resonance also lies in its deep Middle Eastern roots – tapping into family traditions of sharing sweets gifting edible treats and the nostalgic flavours of knafeh and pistachios woven into daily life across the region "When my wife's great-grandfather started Al Samadi Sweets in Beirut in 1872 knafeh was one of the first sweets he ever sold," he reminisces I remember taking the famous Lebanese shared taxi to Al Samadi Sweets daily picking up a plate of knafeh for breakfast and eating it on my way to my father's shop Little did I know [at that time] that I would be marrying Samadi's lovely great-granddaughter," he adds In an interview with Arabian Business last year "I wanted the FIX experience to be different to relive moments of their past." And for many fans around the world that first bite delivers exactly what Hamouda intended: an edible journey back to bustling Middle Eastern souks where merchants sell delicious local sweets and the air is dense with the aroma of pistachios • The baffling purple honey found only in North Carolina • The world's true cradle of chocolate • A beauty mogul's guide to luxury self-care in Dubai "Sixty-eight percent of the world's consumers want to experience cultures other than their own and that includes a willingness and desire to try new flavours and ingredients," explains Naval. Pistachios – a Middle Eastern staple – are riding this wave too, billed as the next big seasonal flavour globally and appearing in everything from lattes to liqueurs At the same time, Middle Eastern tourism is booming and Dubai has emerged as a culinary destination in its own right, with some visitors flying in just to taste the viral chocolate firsthand What began as a simple chocolate bar in a Dubai dessert shop has evolved into a global sensation "I am not surprised," says Chehab reflecting on the chocolate's meteoric rise "It is the perfect amalgamation of taste If you liked this story, sign up for The Essential List newsletter – a handpicked selection of features For more Travel stories from the BBC, follow us on Facebook, X and Instagram. Inside one of the world's most remote restaurants'Off-Map Destination' winner Wolfgat offers a menu made from hyper-local and foraged ingredients. 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On 12 June 1962, three men escaped from the notorious Alcatraz prison. While their fate remains unknown, the ingenuity of their escape continues to captivate. The Italian island immediately conjures up grand bougainvillea-draped villas and a whitewashed city centre, lined by luxury boutiques. But that's – literally – only half of the story. In 1956, Commander "Buster" Crabb disappeared during a visit to the UK by Soviet leader Nikita Khruschev. In 2006, a BBC reporter read the files that detailed his secret mission. Grip strength is associated with a range of health outcomes, from type 2 diabetes to depression. Here’s how to check yours. Astronomers have spotted around a dozen of these weird, rare blasts. Could they be signs of a special kind of black hole? Reporting by Gus Trompiz; editing by David Evans After five years with Reuters in Colombia and the Andes, Oliver is now based in Brazil's São Paulo. He covers soft commodities including sugar, coffee, cocoa - among others - as well as some biofuels.