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Celal Kadooğlu: Hikes in cocoa prices are challenging exporters

Press release…

Turkish Food Exporters made evaluations on cocoa prices, which reached a historical peak by exceeding 10 thousand dollars per tonne due to factors such as climate change and drought.

Celal Kadooğlu

USA is in the top 3 in Southeastern Anatolia’s chocolate exports…

Pointing out that Türkiye’s exports of chocolate and cocoa products reached 149.2 million dollars with a surge of 14.3 percent in the first 2 months of the year, Celal Kadooğlu, Southeastern Anatolia Cereals, Pulses, Oil Seeds and Products Exporters Association, said, “The fact that the hike in cocoa prices came just before the Ramadan Feast, when the demand was very high, affected the sales profitability of the product. In addition to the supply shortage, it is certain that the speculative effect of the large buyers who stocked up in anticipation that the demand will rise even more in the following months is the reason for the hike in prices. Current production figures show that prices will not ease for a long time. Seeing that the cocoa in their stocks has started to decrease, our producers are focusing on alternative countries to overcome the supply problem.”

“Southeastern Anatolia has become one of the strongest regions in the export of chocolate and cocoa products in recent years. The share of this product in our region’s cereal sector exports rose to 4.8 percent in 2023. We export the most chocolate from the Southeast to the USA after Iraq and Libya. Our exporter companies have increased their chocolate varieties in recent years, we aim to ramp up the number of our strong brands with innovative products,” he added…

About İsmail Uğural

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