Americans May Face Higher Prices of Shea and Tem: National Cocoa Association Warns
The National Confectioners Association (NCA) has issued a warning to American consumers that they may face higher prices for their favorite treats, including chocolate, candies, and baked goods, due to a global shortage of two key ingredients: Shea and Tem.
Shea, also known as Shea butter, is a natural moisturizer extracted from the nut of the African Shea tree. It is commonly used in cosmetics, pharmaceuticals, and food products. Tem, on the other hand, is a type of vegetable fat used in the production of chocolate and other confectionery products.
The shortage of Shea and Tem is attributed to a combination of factors, including climate change, drought, and increased demand from the cosmetics industry. The NCA estimates that the shortage could lead to a 10-15% increase in the cost of Shea and Tem, which could have a ripple effect on the prices of chocolate and other treats.
"We are concerned about the impact this shortage could have on the confectionery industry and ultimately, on consumers," said John Downs, President and CEO of the NCA. "We are working closely with our members and suppliers to mitigate the effects of the shortage and ensure that consumers continue to have access to their favorite treats."
The shortage is particularly concerning for American consumers, who are already feeling the pinch of inflation. According to the Bureau of Labor Statistics, the cost of food has risen by 3.7% over the past year, with prices for meat, poultry, fish, and eggs increasing by 5.1%.
The NCA is urging consumers to be prepared for higher prices and to look for alternative products that may not be affected by the shortage. The organization is also working with its members to develop new recipes and products that use alternative ingredients to mitigate the impact of the shortage.
In the meantime, consumers can take steps to reduce their exposure to the price increases. Here are a few tips:
- Buy in bulk: Purchasing in bulk can help reduce the cost per unit of the product.
- Look for alternative brands: Consider trying different brands or products that may not be affected by the shortage.
- Shop at discount stores: Discount stores often offer lower prices on confectionery products.
- Consider DIY: If you’re a crafty person, consider making your own treats at home using alternative ingredients.
While the shortage of Shea and Tem is a concern, the NCA is working hard to ensure that consumers continue to have access to their favorite treats. By being prepared and taking steps to reduce their exposure to the price increases, Americans can continue to enjoy their favorite chocolate and treats without breaking the bank.
