Extreme weather sends breakfast food prices soaring by 55% in a year

The cost of commodities that make up a typical breakfast has soared 55% in a single year, led by major spikes in cocoa and pork, the latest index from trading and investing platform eToro has found.

The rate of price growth amongst breakfast food staples dramatically outpaced the 5.9% rise in the Romanian consumer price index (CPI) or the 2.07% increase in food prices over the same period.

Cocoa prices have experienced the most dramatic rise of all breakfast-related commodities, increasing by 270% in the past year, following a severe drought in West Africa, a region which produces 80% of the world’s cocoa.

Orange juice has experienced similar weather-induced supply pressures caused by crop disease and extreme weather events in the United States, southern Europe and Brazil, rising 39% in the past 12 months.

By contrast, the price of wheat and milk have fallen by 14.4% and 3.9% in the past year. Sugar also registered a price decrease by 4% since January 1st and by 19% in the last 12 months.

SEE ALSO: Dairy and cheese manufacturing sector in Romania, 5% increase

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