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It’s A Bittersweet Easter For Chocolate Lovers And African Cocoa Farmers But Big Brands See Profits
Accra, Ghana – This year, shoppers may receive an unpleasant surprise in their Easter baskets. Chocolate eggs and bunnies are more expensive than ever as changing climate patterns deplete global cocoa supplies and farmers’ profits in West Africa.
Cacao plants in Ghana, Ivory Coast, Nigeria, and Cameroon provide almost three-quarters of the world’s cocoa used to make chocolate. However, dusty seasonal winds from the Sahara have been harsh in recent months, obscuring the sunlight required for bean pod growth. The season before, severe rainfall spread a rotting illness.
It’s A Bittersweet Easter For Chocolate Lovers And African Cocoa Farmers But Big Brands See Profits
With shipments from the world’s largest producer, the Ivory Coast, falling by a third in recent months, the worldwide price of cocoa has climbed substantially. Cocoa futures have already doubled this year, trading at a record high of more than $10,000 a metric ton in New York on Tuesday, following a 60% increase the previous year. Farmers who harvest cocoa beans believe the raises need to be increased to offset reduced yields and increasing production costs.
However, the strong Easter demand for chocolate represents a potential treat for large confectionery producers. Major multinational manufacturers in Europe and the United States have more than passed on the increased cocoa prices to customers. The Hershey Company’s net profit margins climbed to 16.7% in 2023, up from 15.8% in 2022. Mondelez International, which owns the Toblerone and Cadbury trademarks, reported an increase to 13.8% in 2023 from 8.6% the previous year.
Wells Fargo stated in research this month that “it is likely that consumers will see a price spike on chocolate candy this Easter.”
Mondelez said it boosted chocolate prices by up to 15% last year and will consider further price increases to help reach revenue growth targets for 2024. “Pricing is clearly a key component of this plan,” CFO Luca Zaramella stated in January. “Its contribution will be a little bit less than we have seen in 2023, but it is higher than an average year.”
Hershey’s hiked pricing on its products last year and has not ruled out further rises. During a conference call with investors last month, Hershey Chairman, President, and CEO Michele Buck stated, “Given where cocoa prices are, we will be using every tool in our toolbox, including pricing, to manage the business.”
Consumers are keeping track in the United Kingdom?, a consumer research and services firm discovered that chocolate Easter eggs and bunnies from popular brands such as Lindt and Toblerone cost roughly 50% more this year. It also mentioned that certain candy eggs were smaller.
Cocoa trades on a regulated global market. Farmers sell to local dealers or processing firms, selling cocoa products to international chocolate makers. Prices are established up to one year in advance. Many farmers blame climate change for their bad harvests. Cacao plants only grow near the equator and are highly sensitive to weather fluctuations.
“The harmattan was severe at the time the pods were supposed to develop,” Fiifi Boafo, a spokesperson for the Ghana Cocoa Board, said. The cool trade winds carry enough dust to block the sunlight so the trees can flower and produce beans.
Months of rain have also been blamed for black pod disease, a fungal illness that thrives in cool, rainy, and overcast weather and causes pods to rot and harden.
“We have a wonderful deal today, but that isn’t it. Eloi Gnakomene, a cacao farmer on the Ivory Coast, claimed last month that cacao had not yet yielded any fruit. “People say that we’ve had a bit, but those living over that way, they’ve had nothing.”
Opanin Kofi Tutu, a cocoa farmer in Suhum, eastern Ghana, says the production gap and rising fertilizer expenses make it tough to live. “The exchange rate to the dollar is killing us,” he told reporters.
Tutu does not relate chocolate to any of the Easter festivities. “I’m looking forward to my wife’s kotomir and plantain, not chocolates,” he remarked, referring to a local sauce made from cocoyam leaves.
To boost output, officials are pushing education on farming methods that may reduce the consequences of climate change, such as the use of irrigation systems. The President of Ghana has also committed to intervening to help farmers receive a better deal.
It’s A Bittersweet Easter For Chocolate Lovers And African Cocoa Farmers But Big Brands See Profits
“With the current trend of the world cocoa price, cocoa farmers can be assured that I will do right by them in the next cocoa season,” President Nana Addo Dankwa Akufo-Addo stated last month.
The National Retail Federation, an American trade association, predicts that spending this Easter will remain high by historical standards despite increased candy prices. According to its most recent study, shoppers anticipated spending $3.1 billion on chocolate eggs, bunnies, and other sweets this Easter, a decrease from $3.3 billion the previous year.
According to the Chocosuisse industry group, domestic chocolate consumption in Switzerland, the world’s highest per capita, fell by 1% last year to 10.9kg per person. It connected the drop to an increase in retail chocolate pricing.
Lindt & Sprüngli, the country’s iconic chocolate company, reported increasing profitability, with margins jumping to 15.6% from 15% the year before.
“Lindt & Sprüngli Group’s business model once again proved to be very successful in the financial year 2023,” it said in a statement this month, noting that price rises accounted for most of the growth.
However, several smaller chocolate manufacturers need help to keep up with the rise in cocoa prices as sales fall.
It’s A Bittersweet Easter For Chocolate Lovers And African Cocoa Farmers But Big Brands See Profits
Sandrine Chocolates, a London shop that sells handmade Belgian chocolates, is battling to stay open after decades in business. Niaz Mardan, the owner, stated that the United Kingdom’s cost-of-living issue and failing economy have made people more concerned about food than luxury chocolate, especially because cheaper alternatives are accessible at large grocery stores.
She has gotten rid of her two staff and relies on Easter and Christmas revenues to keep afloat. “Many, many times, I thought to close the shop, but because I love the shop, I don’t want to close it,” Mardan, the 57-year-old owner, said. “But there is no profit at all.”
SOURCE – (AP)
News
Trudeau Accused of Sowing Divisions Between Sikhs and Hindus
Pierre Poilievre, the Conservative Leader, has accused Prime Minister Justin Trudeau of sowing “divisions” that culminated in the violent altercation between Sikh separatists and Hindu devotees outside a Hindu temple in Brampton, Ontario.
Justin Trudeau initiated the question period by condemning Poilievre’s reticence regarding the violence in South Asian communities as “deafening.”
Poilievre refuted the assertion by accusing Trudeau of exploiting the matter to divert attention from domestic economic concerns.
“Consequently, he implements divisions in his residence.” Poilievre stated, “These divisions are the consequence of his actions.”
“Currently, sectarian riots are occurring on the streets of Brampton.” This has never occurred before the tenure of this prime minister. Is he accountable for the divisions he has incited and the ensuing violence?
Trudeau Must Assume Responsibility
Mr. Pierre Poilievre, the Conservative Leader, requested that the Prime Minister assume responsibility for the divisions and violence in Canada. In response, Prime Minister Justin Trudeau addressed Poilievre’s refusal to obtain security clearance to review foreign interference documents.
Trudeau, who has frequently employed a phrase in the question period recently, urged Poilievre to undergo the security clearance procedure to receive a briefing from Canada’s intelligence and security agencies regarding potential threats to the country.
Trudeau’s remarks exacerbate an already precarious police situation, which has the potential to further deteriorate the diplomatic relationship between Canada and India.
Police dispersed a second day of demonstrations outside a Hindu temple in Brampton, Ontario, on Monday. The temple has been the site of violent clashes that have resulted in arrests and a public safety alert.
During the Indian consular officials’ visit to the Hindu Sabha Mandir temple in Brampton on Sunday at midday, violence erupted.
Peel Regional Police issued a public safety alert on Monday evening regarding the presence of weapons at a demonstration near a Hindu temple in Brampton, Ont. The demonstration had been the site of violent clashes between demonstrators the previous day.
Canada India Tensions
Social media videos depict demonstrators holding banners in support of Pro-Khalistan separatism, a proposed independent Sikh homeland in northern India, and engaging in physical altercations with other individuals, some of whom are holding India’s national flag.
Later, an off-duty Sergeant of the Peel police in Brampton, Ontario, was identified as one of the pro-Khalistan protesters.
In the interim, the violence prompted Indian Prime Minister Narendra Modi to make a rare comment during a period of escalating diplomatic tensions between the two countries.
“I unequivocally condemn the intentional destruction of a Hindu temple in Canada.” “The cowardly attempts to intimidate our diplomats are equally appalling,” he shared on social media.
No amount of violence will ever undermine India’s resolve. We anticipate that the Canadian government will maintain the rule of law and ensure justice.
Last September, Trudeau expressed that there were credible allegations that the Indian government was involved in the assassination of Sikh activist Hardeep Singh Nijjar in Canada, which marked the beginning of the deterioration of relations between the two countries. India has vigorously denied the charge.
News
Police Officer Suspended for Joining Pro-Khalistan Protest
A Brampton, Ontario, police officer was suspended on Monday following the viralization of a video on social media that showed him participating in a pro-Khalistan protest outside a Hindu temple.
According to CBC News, the suspended Peel Regional Police officer, Harinder Sohi, was videotaped brandishing a Khalistan flag while other participants in the protest chanted anti-India slogans. He was not wearing a police uniform.
Sohi served as a Sergeant for the Peel Regional Police.
In an email to CBC News, Media Relations Officer Richard Chin informed the organization that it is “aware of a video circulating on social media that depicts an off-duty Peel Police officer participating in a demonstration.”
“This officer has since been suspended in accordance with the Community Safety and Policing Act,” according to him.
“We are investigating the circumstances in totality depicted in the video and are unable to provide further information until this investigation is complete.”
Peel Regional Police have previously stated that three individuals have been charged in connection with the violence that occurred during the visit of Indian consular officials to the Hindu Sabha Mandir temple on Sunday.
Social media videos appear to depict demonstrators holding banners in support of Khalistan, a proposed independent Sikh homeland in northern India, and engaging in a physical altercation with other individuals, some of whom are holding India’s national flag.
The videos appear to depict fist battles and individuals striking each other with poles on the grounds outside the Hindu Sabha Mandir temple.
According to Peel police, the event was ultimately relocated to two additional locations in the neighboring city of Mississauga, where additional demonstrations were also conducted.
Peel police acknowledged the protest on Sunday at noon and announced that they had increased their presence at the Hindu Sabha Mandir temple to preserve public safety and order.
“We acknowledge the right to peacefully and safely protest; however, we will not tolerate criminal activities or violence,” stated Chief Nishan Duraiappah in response to the videos’ dissemination.
“Those that do participate in this activity will be pursued, arrested, and charged.”
The violence elicited condemnations from Canadian political leaders at all levels of government and also prompted Indian Prime Minister Narendra Modi to make a rare comment during a period of escalating diplomatic tensions between the two countries.
Prime Minister Narendra Modi expressed his concern regarding the “deliberate attack” and requested accountability from the Canadian government, which Justin Trudeau heads. He anticipated that the government would uphold the rule of law and ensure justice.
PM Modi expressed his strong condemnation of the deliberately targeted assault on a Hindu temple in Canada in a post on X. The contemptible endeavors to intimidate our diplomats are equally repulsive. No amount of violence will ever be able to undermine India’s resolve.
In the interim, the Minister of External Affairs (MEA) expressed its “profound concern” regarding the safety and security of Indian nationals in Canada, and it anticipates that those who engage in violence will be prosecuted.
The Hindu Sabha Temple in Brampton, Ontario, was the site of violent acts committed by separatists and extremists yesterday. We condemn these actions. “We urge the Canadian government to guarantee that all places of worship are safeguarded from such attacks,” stated Randhir Jaiswal, the spokesperson for the MEA.
Related News:
India Slams Trudeau Over Pro-Khalistani Sikhs Attack
India Slams Trudeau Over Pro-Khalistani Sikhs Attacking Canadian Hindus
News
Pro-Khalistanis Sikhs Attack Hindu Temple in Brampton
Police in Brampton, Ontario, were summoned to the Hindu Temple after a group of pro-Khalistanis Sikhs attacked Hindu worshipers on Sunday. According to the Hindu Canadian Foundation, supporters of the Khalistaani movement in Canada helped to carry out the “attack.”
Following its posting on X, a video of the attack with demonstrators brandishing Khalistan flags at the Hindu Temple’s front entrance quickly became viral, inciting indignation among the Hindu community in Canada and India.
Chandra Arya, a Liberal MP from Canada, denounced the violence and claimed that under the country’s “freedom of expression,” extremists are getting away with it.
According to Arya, he began to think there might be some truth to the claims that Khalistanis have successfully infiltrated Canada’s law enforcement forces and political machinery.
Today, Canadian Khalistani fanatics have crossed a line. The attack by Khalistanis on Hindu-Canadian worshipers within the Hindu Sabha temple’s grounds demonstrates the extent and blatantness of Khalistani violent extremism in Canada.
In a post on X, he stated, “I start to believe that there is a sliver of truth in the reports that Khalistanis have successfully infiltrated not only our political apparatus but also our law enforcement agencies.”
It is understandable why Khalistani fanatics are receiving a free pass in Canada under the guise of “freedom of expression.” As I’ve been saying for a while, Hindu Canadians must stand up, defend their rights, and hold politicians responsible for the safety and security of our community,” he continued.
Peel Regional Police said they were aware of the demonstration in the city’s northeast and are investigating the situation.
The Canadian Charter of Rights and Freedoms states, “We respect the individual right to protest, but it is still our duty and responsibility to maintain public order and ensure everyone’s safety. ” Therefore, we request the public’s help participating in and supporting a nonviolent and legal protest.
Peel police warned that any acts of violence, threats of violence, or vandalism would be looked into and said they would be more visible and present to keep an eye on the situation.
Taking his X account, Brampton Mayor Patrick Brown also conveyed his dissatisfaction after learning of the “acts of violence” outside the Hindu Sabha.
“In Canada, religious freedom is a fundamental virtue. In their house of worship, everyone ought to feel secure. Brown stated in his letter that he is “completely confident that Peel police will do everything in their authority to keep the peace and hold those accountable who commit acts of violence.” “I strongly condemn any acts of violence outside of a place of worship,” Brown added.
“The violence at the Hindu Sabha Mandir in Brampton was unacceptable,” Canadian Prime Minister Justin Trudeau also posted on X.
Every Canadian has the right to freely and securely follow their religion. “Swiftly responding to protect the community and investigate this incident” was how he praised the cops.
As Ottawa frequently rejected New Delhi’s demands for tough measures against Khalistani radicals in Canada, the incident took place during a time of poor relations between India and Canada. Instead, it sparked a huge diplomatic dispute by accusing India of targeting Khalistani people inside its borders.
India Accuses Trudeau of Harboring Pro-Khalistanis Criminals
India Accuses Trudeau of Harboring Pro-Khalistan Criminals in Canada
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