🍫 What Record High Cocoa Costs Mean For CPG

Cocoa prices have been on a wild roller coaster ride over the past year and, according to a recent report by The New York Times, there may be no end in sight. 

What caused the cocoa price chaos? A mix of low rainfall, plant disease and aging trees in 2023 led to a “disappointing crop” in the Ivory Coast and Ghana. The two countries produce roughly two-thirds of the world’s cocoa so the shortage caused prices to climb dramatically – reaching $4,200 per ton in December, the highest it had been since the 1970s. 

The future of Foxtrot is once again in question after assets belonging to the shuttered convenience chain were acquired on Friday by Further Point Enterprises via auction for $2.2 million, according to a report from Crain’s Chicago Business.

• The auction was conducted by JPMorgan Chase Bank, a debtor of Foxtrot, via Microsoft Teams.
• Assets belonging to Dom’s Kitchen and Market were also put up for bid but were not sold.
• Further Point’s portfolio includes non-alcoholic beer Athletic Brewing, Boston-based taqueria Borrachito, and celebrity chef Bobby Flay’s cat food brand, Made by Nacho, among others.

Read the full report for more details.

Dates, consumed for millenia, are having a modern moment. But can the superfood maintain its momentum, particularly among mainstream consumers? And, while we’re asking: has “superfood” lost its luster? Taste Radio’s hosts have their say. We also sit down with MMA icon Quentin “Rampage” Jackson, who is a partner with upstart beverage brand F3 Energy.

The episode is out now. Listen here.

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