Cocoa prices have been on a relentless climb, and the current cocoa price trend tells a story of serious supply-side trouble. West African production has been hit by unfavorable weather and crop disease, while global demand for confectionery and beverages remains strong.

We’re seeing the tightest supply balance in years, pushing futures to record highs. Manufacturers are already warning about higher costs for chocolate and cocoa-based ingredients heading into the holiday season.

If you’re looking for detailed analysis, this report is worth a read: https://www.procurementresource.com/resource-center/cocoa-price-trends. It outlines regional supply shifts, weather impacts, and forecasts for the coming quarters.

Given these constraints, do you think we’ll see substitution or reformulation trends from major food companies? Or is the market simply adjusting to a new normal for cocoa prices? The situation looks more structural than short-term at this point.