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Soaring Chocolate Prices Impact Businesses around the Globe

Supply chain woes and weather push cocoa to record highs.

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  • Chapter 1 Taking Risks & Making Profits
  • Chapter 2 Economics
  • Chapter 3 Globalization
  • Chapter 4 Ethics & Social Responsibility
  • Chapter 5 Forms of Business Ownership
  • Chapter 6 Entrepreneurship
  • Chapter 9 Production & Operations Management
  • Chapter 13 Marketing
  • Chapter 14 Product & Price
  • Chapter 15 Distribution
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A few weeks ago, we looked at how rising cocoa prices led to price increases for chocolate just before the Halloween season. The video below examines this global issue in great detail, from the struggles of cocoa farmers in Ghana to the effects of rising costs both on independent operators and major candy producers like Mars Wrigley. 

Questions:

  1. What are some of the issues affecting the livelihoods of Ghanaian cocoa farmers?
  2. How are independent businesses like Li-Lac Chocolates responding to rising cocoa prices? How does their approach differ from big companies like Mars Wrigley?
Author: NickelsMcHughMcHugh