The past few weeks have been extremely challenging, with cocoa prices soaring over 300% 🔝due to major production disruptions in Ivory Coast and Ghana, global cocoa supply faces a historic deficit. The International Cocoa Organization predicts a staggering 405% increase in shortfall of supply vs. demand. Key factors contributing to this crisis include devastating diseases like Black Pod Disease and Swollen Shoot virus, alongside weather challenges like heavy rain and El Nino.
Farmers are shifting to more profitable crops, aggravating cocoa shortages.
What does this mean for us? Brace for continued price hikes and potential product changes like smaller bars or adjusted ingredients. 😞
I decided to take things into my hands 🙌 and spend endless hours on resourcing and tweaking few things out.
My goal is not to make any drastic changes and continue to navigate during these turbulent times. It requires a blend of resilience, adaptability, and self-care.
I remind myself to stay calm and not let the news overwhelm me. Knowledge empowers me to make informed decisions without succumbing to panic.
**Prioritizing Health:** My health is non-negotiable, especially during challenging times. I prioritize my well-being by maintaining a balanced diet, staying hydrated, and ensuring I get enough rest. This keeps my body and mind resilient and ready to face any challenges that come my way.
**I Embrace Innovation:** Turbulent times fuel my innovative spirit. I see challenges as opportunities to think outside the box and find creative solutions. This mindset has led me to discover new strategies and approaches that have helped me thrive in difficult circumstances.
I'm not afraid to seek support from my network of friends, family, and mentors. Their perspectives and encouragement provide me with the strength and clarity I need to navigate through tough times with grace and determination.
And in the midst of all this cocoa chaos, you'll find me sipping on my green juice and sneaking spoonfuls of chocolate mousse. Because when life gets a little nuts, finding balance is the 🔑 🔑
Sharing ideas and coping strategies can be incredibly helpful during challenging times like cocoa shortages. If anyone has great ideas or strategies they'd like to share, I'd love to hear them! Feel free to drop them in the comments below. 😍😍😍😀😀😀💪💪💪
Partner at Duane Morris LLP
4moWhen are you coming to Miami :)