GLOBAL COCOA BUTTER SHORTAGE!
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As you know, cocoa butter is one of the "main characters" on our ingredient list. Today, we found out that there is a global cocoa shortage.
Below is information we found online regarding the shortage:
There is a global shortage of cocoa, which is also affecting cocoa butter. The shortage is due to a combination of factors, including:
- Climate change: Drought, low rainfall, and plant disease have damaged crops in West Africa, which produces around 80% of the world's cocoa.
- Aging trees: Trees in Ivory Coast and Ghana, which produce about two-thirds of the world's cocoa.
This shortage had led our supplier to increase their price of cocoa butter by 378%!
The shortage is estimated to be around 8% for the 2023-2024 season, and the International Cocoa Organization (ICCO) predicts that production will fall 374,000 metric tons short of demand. Chocolate maker Barry Callebaut AG estimates a deficit of 500,000 tons, which is about 10% of the global market.
What does this mean for our products?
We do not intend to increase prices to accomodate to these inflated prices. We do have a stash left, but once our cocoa butter is gone, it will be replaced with mango butter until prices return to normal. The formula of our OTGB and whipped body butters should remain the same and ingredient labels will be updated accordingly. We appreciate your patience and understanding!
-Stas
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