Second largest diamond ever found is discovered in Botswana
The second biggest diamond ever found has been unearthed in Botswana. Canadian mining company Lucara Diamond said it discovered the gem in one of its mines in the south African country.
The massive 2,492-carat diamond was located using the mining company’s x-ray technology. The company presented it to Botswana President Mokgweetsi Masisi on Thursday, Aug. 22.
The colossal stone is believed to be the biggest one found since a 3,106-carat diamond was discovered in South Africa in 1905. The Cullinan Diamond was cut into smaller stones, some of which make up the British royal family’s Crown Jewels.
Botswana is the world’s top diamond producer by value.
VP Kamala Harris formally accepts Democratic presidential nomination at DNC
Vice President Kamala Harris closed out the Democratic National Convention (DNC) by accepting her party’s nomination for president. And one of the largest diamonds ever found was just unearthed in Botswana. These stories and more highlight The Morning Rundown for Friday, Aug. 23, 2024.
VP Kamala Harris formally accepts Democratic presidential nomination at DNC
Vice President Kamala Harris has officially accepted her party’s nomination for president. The Democratic National Convention came to a close Thursday night, Aug. 22, after Harris addressed the crowd, laying out more of her policy vision for the nation and going after her Republican opponent, former President Donald Trump.
“I want you to know I promise to be a president for all Americans,” Harris said. “You can always trust me to put country above party and self. In many ways, Donald Trump is an unserious man. But the consequences, but the consequences of putting Donald Trump back in the White House are extremely serious.”
During her speech, Harris vowed to create what she called an “opportunity economy.” She also reiterated her stance that Israel has a right to defend itself but pressed for a cease-fire deal and pledged to reform the U.S. immigration system.
When Harris turned her attention to the former president, she blamed Trump for Republicans voting against a bipartisan border bill, said he sent a mob to the U.S. Capitol on Jan. 6, 2021, and highlighted his now-criminal record.
“The biggest reaction is why didn’t she do the things she’s complaining about,” he questioned. “She could’ve done it three and a half years ago. She could do it tonight, by leaving the auditorium and going to Washington D.C. and closing the border. She doesn’t need a bill. I didn’t have a bill; I closed the border. She could still do them. She’s got four and a half to five months left.”
All eyes will be on Robert F. Kennedy Jr., the third-party candidate, on Friday, Aug. 23, as he’s set to hold a press conference. The speculation is Kennedy will be dropping out of the presidential race and potentially endorsing Trump.
They had planned to march toward the convention center but were blocked by rows of police in riot gear.
#WATCH : More videos of Massive pro-Palestine protest engulfs DNC convention
Thousands of pro-Palestinian demonstrators marched in Chicago during the Democratic National Convention, outraged over Dems' backing for Israel in the Gaza war.
The group of about 40 unconfirmed delegates and supporters spent Wednesday night, Aug. 21, outside the United Center on the sidewalk and remained there until after 8 p.m. Thursday before finally going back inside to the convention.
Supreme Court allows Arizona to enforce proof-of-citizenship law
The United States Supreme Court agreed to temporarily reinstate a portion of a 2022 Arizona law requiring proof of citizenship when people register to vote. In a 5-4 ruling, the high court gave a partial victory to Republicans who have been trying to enforce proof of citizenship as a requirement to cast a vote in November.
While the justices ruled the state can enforce the requirement of proof of citizenship to vote using the state’s registration form, the court turned down other requests that would bar voters who registered using a federal form or by mail unless they showed proof of citizenship.
This is only a temporary ruling while litigation continues. So, it’s unclear as of now if, come November, voters in the state will have to show documentation they’re a legal resident to cast a ballot.
Canadian government orders arbitration to end rail labor dispute
The Canadian government has intervened in a labor dispute involving thousands of freight train workers. The deadlock on workers’ contract negotiations could have led to a major economic disruption, impacting goods coming into the United States.
The trains are expected to resume running in a few days.
FDA approves updated COVID vaccines
The FDA has approved updated COVID vaccines from Pfizer and Moderna. This puts the new shots on track to reach most Americans within days.
Today, we approved and granted emergency use authorization for updated mRNA COVID-19 vaccines (2024-2025 formula) to include a monovalent (single) component that corresponds to the Omicron variant KP.2 strain of SARS-CoV-2. https://t.co/pul33IEnIw
These shots target a strain called KP.2, which was the dominant COVID strain in May when a summer surge of the virus began, but now only accounts for roughly 3% of all U.S. cases, according to the CDC. Still, Pfizer and Moderna said their KP.2 vaccines can produce stronger immune responses against other circulating sub-variants than last year’s shots.
Second largest diamond ever found is discovered in Botswana
The second largest diamond ever found was just unearthed in Botswana, according to the Canadian mining company that discovered the gem in one of its mines in Africa. The massive, 2,492-carat diamond is the biggest to be found in more than a century and it was located using X-ray technology.
The mining company presented Botswana’s president with the huge stone on Thursday, Aug. 22. The diamond will be evaluated over the next several weeks and will likely sell for tens of millions of dollars.
The colossal stone is believed to be the biggest one found since a 3,106-carat diamond was discovered in South Africa in 1905 and cut into smaller stones — some of which make up the British royal family’s crown jewels.
Sweden reports first case of more dangerous mpox variant outside Africa
Sweden has reported the first case of the more dangerous mpox variant, Clade I, outside of Africa. The announcement comes just one day after the World Health Organization (WHO) declared mpox, formerly known as monkeypox, a global public health emergency, following an outbreak in the Democratic Republic of Congo.
The outbreak has now spread to neighboring countries as the Democratic Republic of Congo grapples with a severe mpox outbreak that has resulted in more than 14,000 cases and nearly 550 deaths since early 2024.
Sweden health officials said the infected person contracted the virus in Africa and has received appropriate care. They also emphasize that the risk to the general Swedish public remains low.
This strain of mpox, Clade I, is associated with more severe outcomes and higher mortality rates compared to the previously circulating Clade II strain.
Symptoms of the new mpox variant include fever, chills, headache, exhaustion and swollen lymph nodes. Mpox also causes a characteristic rash affecting the face, hands and feet.
The Centers for Disease Control and Prevention (CDC) said mpox spreads either by a person coming into contact with an infected animal, close contact or sexual contact with a person infected with mpox, or through contact with contaminated materials.
Health officials said they believe this Clade I strain is more easily transmissible.
The WHO has released $1.5 million in contingency funds and is seeking an additional $13.5 million from donors to implement a response plan.
Kenyan president walks back tax hike plan in wake of deadly protests
On Wednesday, June 26, Kenyan President William Ruto bowed to pressure from activists, reversing controversial planned tax hikes on some basic necessities. This comes a day after protesters stormed Kenya’s parliament headquarters on Tuesday, June 25, which led to violent clashes with police and killed at least 23 people, while leaving scores more injured.
Ruto announced that he would not be signing a finance bill, which would have included tax increases on basic necessities for Kenyans.
Addressing the media on Wednesday, Ruto said he was “listening keenly to the people of Kenya who have said loudly that they want nothing to do with this finance bill 2024.”
As Straight Arrow News previously reported, the controversial legislation would have raised $2.7 billion in revenue for the Kenyan government to address the country’s debt.
However, Ruto has now promised to reduce the national debt, starting with cuts to the budget of the presidency. Additionally, Ruto said that he will open a discussion with the youth-led protest movement. He did not provide details on the dialogue.
Ruto’s promises didn’t appear to quell the unrest among many Kenyans. Leaders of the “7 Days of Rage” vowed further action in the streets and demanded that Ruto step down.
Government critics have said that greed, corruption and mismanagement of money by politicians have hurt the economy and ordinary people shouldn’t foot the bill for the national debt.
Meanwhile, Kenyan Vice President Rigathi Gachagua urged activists to call off any further protests to avoid more death and destruction. The vice president also blamed intelligence agencies for the security failures that led to protesters breaching government chambers.
Gachagua also called for the resignation of the head of Kenya’s national intelligence service.
Teen boys threatened with financial sextortion scams at high rate
Financial “sextortion” scams are becoming more common, and it appears teenaged boys are paying the price. Anti-child sexual abuse technology company Thorn looked at more than 15 million reports from the National Center for Missing and Exploited Children (NCMEC) from 2020 to 2023. The company found that sextortion, especially financial sextortion, is a growing problem.
The FBI defines sextortion as when someone is threatened or coerced into sending sexually explicit images online. Financial sextortion is when someone uses those images as blackmail in exchange for payment.
The study found reports of sextortion went up dramatically after 2022, exceeding 600 a week.
In the past, sextortion schemes frequently targeted girls. However, this new study shows teenaged boys are now the most common victims of financial sextortion. The study found that 14- to 17-year-old boys account for 90% of the financial sextortion reports to NCMEC.
According to the report, the vast majority of child sextortion cases start with “catfishing,” usually in the form of someone posing as another teenager to get teen boys to send sexually explicit images or videos of themselves. The perpetrator will often then threaten to ruin the teen’s life by sharing the pictures with their friends or family if they don’t send money.
The study also found Instagram was the most commonly used social media platform for financial sextortion. The platform was mentioned in more than 80% of threats and used more than half the time to follow through.
Instagram was also the most popular way perpetrators made initial contact with victims. However, the report also noted a trend of using end-to-end encrypted messaging apps, like WhatsApp or Telegram, to communicate with victims. Gift cards and Cash App were identified as the most common payment methods.
Meta, which owns Instagram, said financial sextortion is a “horrific crime” and it is already implementing new features to help protect users.
The company said it is currently testing a feature that would blur nudity in direct messages and developing technology to help identify accounts that may potentially be engaging in sextortion scams.
The report identified Nigeria and Cote d’Ivoire as the two countries most often linked to sextortion schemes. It says incidents have been tied to crime networks that operate in these countries.
Cruise ship rescues 68 migrants headed for Spanish Canary Islands from rough Atlantic
A luxury cruise ship rescued dozens of migrants adrift in the Atlantic Ocean on Thursday, June 20. Spanish authorities said the migrants were trying to reach the Spanish Canary Islands.
The cruise ship Insignia was near the end of its 180-day trip around the world when it got the call for help. Authorities said 68 people were rescued, but at least five died.
A passenger onboard the cruise told CBS News the migrants were from Africa and had been at sea for 20 to 30 days.
The Spanish Canary Islands have become the main point of entry to Spain for illegal migrants from Africa in recent years — and the deadliest. “Walking Borders,” a migration rights group, said last week nearly 5,000 migrants died at sea on that route during the first five months of 2024.
Last year alone, Spain recorded more than 55,000 migrants arrived by sea — most of them to the Canary Islands. That’s almost double the number from 2022. And so far in 2024, more than 23,000 have landed, according to Spain’s Interior Ministry.
Biden preps at Camp David, Trump remains on campaign trail ahead of debate
With just days to go, President Joe Biden and former President Donald Trump prepare for the first presidential debate. And prosecutors drop charges against Columbia students arrested during campus protests. These stories and more highlight The Morning Rundown for Friday, June 21, 2024.
Biden preps at Camp David, Trump remains on campaign trail ahead of debate
With under a week to go until the first presidential debate, President Joe Biden and former President Donald Trump are taking different approaches to getting prepared. And CNN is releasing more details on what the debate will look like.
President Biden gave a thumbs up to reporters when asked how debate prep is going as he headed to Camp David on Thursday, June 20. Biden will spend the next handful of days at the Maryland retreat with his team of aides, including his former Chief of Staff Ron Klain, to get his talking points together for the June 27 debate.
Preparations will include a mock 90-minute debate and it is possible that Biden will travel straight from Camp David to Atlanta for the debate.
Meanwhile, former President Donald Trump has been holding policy meetings with vice presidential candidates and will continue on the campaign trail, including holding a rally in Philadelphia and delivering a keynote address at the Faith and Freedom Coalition conference in Washington.
Friday, June 21, will see the start of a series of court hearings in Florida regarding Trump’s federal case on the handling of classified documents, but he is not expected to attend those proceedings.
On Thursday, Trump was a guest on the All-In Podcast hosted by a group of Silicon Valley entrepreneurs. When asked about his prediction for the debate, Trump spoke out against Biden’s policies but did give the current president some praise over his past debate performances.
“Well, all I can say is this: I watched him with Paul Ryan and he destroyed Paul Ryan,” Trump said. “Paul Ryan with the water — he was chugging water at left and right. I didn’t think a human being would be able to drink so much water at one time. And he beat Paul Ryan so, I’m not underestimating him. I will say he beat Paul Ryan, which was still years ago, but he beat Paul Ryan pretty badly and I assume he’s going to be somebody that will be a worthy debater. Yeah, I would say I think I don’t want to underestimate him.”
President Biden will take the right podium position at CNN's presidential debate after his campaign won a coin flip, and Trump will get the last word https://t.co/VnnbwBsF2q
CNN announced on Thursday that it will be only Biden and Trump debating, as independent candidate Robert F. Kennedy Jr. failed to meet the network’s requirements.
CNN held a coin flip to decide podium placement and the order of closing statements. Biden’s campaign won the coin toss and chose to stand on the right side of the viewers’ screen.
Trump’s team was then able to choose the order of closing arguments. Trump will get the final word at Thursday’s first presidential debate of the season.
Charges dropped against most Columbia pro-Palestinian protesters
Charges have been dropped for most of the protesters arrested after occupying Columbia University’s Hamilton Hall in April. The Manhattan District Attorney’s Office dropped charges Thursday for 31 of the 46 students and staff charged with trespassing during pro-Palestinian protests.
Prosecutors said they don’t have enough video from inside the building because protesters covered the surveillance cameras.
Prosecutors also told 14 others, including two Columbia students, their cases would be dropped if they avoid being arrested in the next six months. The 14 rejected the offer and will be due back in court next month.
The remaining defendant has two other open cases against him on separate charges including a charge of arson for burning an Israeli flag during a protest.
The students and staff who had their charges dropped are still subject to discipline by Columbia university.
U.S. redirecting interceptor missiles from other allies to Ukraine
The U.S. is rushing its delivery of air defense interceptor missiles to Ukraine to help counter Russia’s escalating attacks on Ukrainian energy infrastructure. The White House announced Thursday, June 20, it’ll do so by redirecting planned shipments to other allied nations.
Officials have not disclosed which nations will have to wait for aid. National Security Spokesperson John Kirby called it a “difficult but necessary decision.”
“Russia has accelerated both its missile and its drone attacks against cities and civilian infrastructure,” Kirby explained. “They are trying to destroy Ukraine’s energy system ahead of this winter. Again, this is not a new tactic for them, but they have certainly applied a lot more energy and effort into it in recent months. Deliveries of these missiles to other countries that are currently in the queue will have to be delayed. To be clear, those countries will still receive the missiles that they have ordered, it’s just that the delivery timelines will now take a little longer.”
I am deeply grateful to @POTUS and the United States for prioritising Ukraine in the delivery of air defenses that we critically need to defeat Russian attacks.
These additional air defense capabilities will protect Ukrainian cities and civilians. I thank President Biden for the…
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) June 20, 2024
The U.S. was already sending Ukraine a consistent stream of interceptors for its air defense systems. The number of interceptors to be sent isn’t clear but Kirby said it could involve “hundreds” of Patriot missiles.
U.S. bans sales of cybersecurity software over Russian ties
In a first-of-its-kind move, the Biden administration is banning U.S companies and citizens from using certain software made by a Russian cybersecurity firm over national security concerns. They’re targeting Kaspersky Lab’s antivirus software.
The U.S. Commerce Secretary said Russia’s influence over the company poses a significant security risk.
The ban calls for Kaspersky to stop selling its software products in the U.S. starting July 20. U.S. customers will stop getting software updates at the end of September.
U.S. government agencies already banned Kaspersky Lab software in 2017.
Kaspersky defended itself in a statement, saying it “does not engage in activities which threaten U.S. national security.”
FBI investigating cause of deadly New Mexico wildfires
The FBI is now investigating what caused two wildfires in New Mexico. So far, at least two people have died and 1,400 buildings have been destroyed, with hundreds believed to be people’s homes.
As of Friday, June 21, morning, the South Fork Fire and Salt Fire were 0% contained and more than 8,000 residents in the area remain under evacuation orders.
In their latest update, forestry officials said the South Fork fire has burned an estimated 16,000 acres and the Salt Fire more than 7,000.
A cruise ship rescued dozens of migrants from a fishing boat trying to get to the Spanish Canary Islands in rough seas. The luxury cruise ship “Insignia” was near the end of a 180-day trip around the world when it got a distress call about the boat.
The ship’s crew rescued 68 people, but at least five died before help arrived.
The Canary Islands have become the main point of entry to Spain for illegal migrants from Africa in recent years, but authorities say that route is also the deadliest.
Oldest wine ever discovered in Roman funerary urn
Researchers have discovered what is said to be the world’s oldest wine — at 2,000 years old. A team of scientists studied liquid inside an urn that was found at a Roman burial site in Spain.
The team conducted a chemical analysis and, in a study published this week, said they discovered the contents to be the oldest wine ever found in liquid form. Specifically, they said it was a white wine.
The researchers said an air-tight seal prevented the wine from evaporating after all these years.
With closing arguments coming to a close, the criminal trial of former President Donald Trump is headed to the jury. And actor Robert De Niro speaks out against the former president at a campaign event for President Joe Biden. These stories and more highlight The Morning Rundown for Wednesday, May 29, 2024.
Trump criminal trial moves to the jury
The criminal trial of former President Donald Trump in New York will go into the hands of the jury Wednesday, May 29, after a day of closing arguments.
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Both sides took their time Tuesday, May 28, in hopes of swaying the 12-person jury. Trump’s attorney Todd Blanche spent three hours on closing arguments, trying to discredit the defense’s star witness, Michael Cohen, describing him as “the human embodiment of reasonable doubt,” “an MVP of liars” and “the greatest liar of all time.”
The prosecution took nearly five hours for its closing arguments, claiming the former president committed “a subversion to democracy” and aiming to prove Trump is guilty of falsifying business records.
Trump has denied any wrongdoing in the case.
This morning, the jury will receive instructions from the judge before beginning deliberations to reach a verdict in the first criminal trial of a former U.S. president.
Robert De Niro speaks at Biden campaign rally outside Trump trial
De Niro, a longtime Democrat who recently voiced an ad for Biden’s campaign, spoke to reporters, criticizing Trump. Trump is the presumptive GOP nominee in the upcoming presidential election.
“When Trump ran in 2016, it was like a joke,” De Niro said. “This buffoon running for president ‘no never could happen.’ We’d forgotten the lessons of history that showed us other clowns who weren’t taken seriously until they became vicious dictators. With Trump, we have a second chance and no one is laughing now.”
De Niro was accompanied by two law enforcement officers who were at the Capitol on Jan. 6, 2021, saying the riot was fueled by lies that the 2020 election was stolen.
Pro-Trump supporters could be heard chanting in the background during the Biden event. In response, the Trump campaign held a press conference soon after, with a spokesperson saying, “Donald Trump’s numbers are rising … the best the Biden campaign can do is roll out washed-up actors.”
Harvey Weinstein to appear in same NY courthouse as Trump trial
Harvey Weinstein is expected to appear before a judge Wednesday, May 29, in the same New York City courthouse as where the Trump trial is taking place. Weinstein is awaiting a retrial on rape charges after his 2020 conviction was overturned.
He was initially convicted of third-degree rape, but that conviction was tossed out in April by New York’s highest court, which ruled that the trial judge unfairly allowed testimony from other women not involved in the case.
Weinstein maintains that any sexual activity was consensual.
The former Hollywood producer had been serving a 23-year sentence in New York. Weinstein was also convicted in Los Angeles in 2022, where he is sentenced to serve 16 years.
The retrial in New York is expected to begin sometime after Labor Day.
Gaza aid deliveries suspended after pier damaged
Aid deliveries to Gaza have been suspended after a U.S.-built temporary pier became damaged by rough seas.
The $320 million pier, operational since May 17, has already faced several issues, including three U.S. service member injuries and four vessels being beached due to heavy seas.
Pentagon officials addressed the necessary repairs on Tuesday, May 28.
“Unfortunately, we had a perfect storm of high sea states and then, as I mentioned, this north African weather system also came in at the same time creating not an optimal environment to operate this JLOTS, this temporary pier,” Deputy Pentagon Press Secretary Sabrina Singh said.
Army engineers are working to repair the pier, and officials hope it will be fully operational in just over a week.
South Africans vote in most competitive election since apartheid
Opinion polls suggest the African National Congress (ANC) may lose its parliamentary majority for the first time in 30 years. Voters are voicing frustration over high unemployment, crime rates, power cuts and corruption.
Lines formed early at various polling stations, including a primary school in Soweto, where President Cyril Ramaphosa is expected to vote.
The ANC, which has dominated elections since 1994 when Nelson Mandela was elected president, might now fall short of a majority, potentially requiring a coalition with smaller parties to govern. Despite these challenges, the ANC is still expected to win the largest share of the vote, likely ensuring a new term for President Ramaphosa.
MLB incorporating Negro League stats into record books
History is being made Wednesday in Major League Baseball as MLB officially incorporates the stats of former Negro League players into its record books.
In 2020, MLB announced it would be “correcting a long oversight” by adding the Negro Leagues. Because of these additions, Hall of Famer Josh Gibson will now become MLB’s new all-time career leader in batting average, surpassing Ty Cobb. Gibson will also surpass Babe Ruth in slugging percentage and and OPS.
“This initiative is focused on ensuring that future generations of fans have access to the statistics and milestones of all those who made the Negro Leagues possible,” baseball commissioner Rob Manfred said in a statement.
EU funding tied to efforts to drop migrants in African desert: Report
Sub-Saharan and other African migrants traveling to Europe face dire consequences when they leave the North African coast. Many who try to make it to the European Union (EU) are being picked up before they make land and dropped off in the desert. According to a new report, EU nations are funding these roundups of migrants.
The most common route for African migrants trying to make it to Europe is through Italy, with many arriving on the island of Lampedusa. However, the journey is perilous as boats often capsize. More recently, migrants are being picked up by the Tunisian coast guard and transported to the African desert at Tunisia’s borders with Libya and Algeria. There, the migrants are left to their own devices to survive.
Migrants who arrived in Tunisia said that food, water and work are particularly nonexistent.
“There is no work here,” one migrant who spoke to The Associated Press said. “It’s not easy to find anything to eat. Life is expensive here. Things are very difficult here and you can’t buy water or shampoo or wash properly. All we want is for them to let us go, we will leave.”
Migrants want the Tunisian government to allow them passage to Europe. However, The Washington Post and several other international outlets reported that the EU and individual European nations are financing Northern African countries’ efforts to stop the flow of migration.
The investigation shows that African nations are intercepting boats of migrants in the Mediterranean Sea, bringing them back to Africa and then dropping them off hundreds of miles inland in the middle of the desert. The placement exposes them to kidnapping, extortion, torture, sexual violence and death, according to the yearlong joint investigation.
Activists seeking better rights and humanitarian aid for the migrants hold the EU directly responsible.
In June 2023, the European Commission brokered a deal with the Tunisian government, promising just over 1 billion euros for the African nation to help stabilize its economy and stem the flow of migrants leaving the Tunisian coast for Europe.
According to the AP, the Tunisian coast guard’s efforts are working, as they have prevented more than 21,000 migration attempts by land or sea this year.
Cocoa crisis: Soaring chocolate costs; global heatwaves, disease
As Easter approaches, the shadow of chocolate despair appears yet again. This time, the cause is the skyrocketing cost of cocoa, which has surged to an unprecedented high of $9,000 per metric ton.
These record-breaking prices are attributed to severe heat and drought conditions, especially in key cocoa-producing regions like Africa’s Ivory Coast and Ghana.
“Demand will continue to rise, while supply will continue to fall,” Balamine Koné, chairman of the management committee of the modern farmers’ cooperative in Daloa, Ivory Coast, said. “So naturally, the price will automatically go up.”
“So as much as the price of the raw material rises, the finished product will inevitably suffer the consequences,” Koné added. “I think this is already the case, because some chocolate makers have already started to raise the price of a bar of chocolate a little.”
The exacerbating effects of the El Niño phenomenon and global warming have led to heatwaves, with temperatures climbing over 100 degrees, putting cocoa crops at risk due to forest fires and the rampant spread of black pod disease.
Fungal black pod disease — a significant concern for cocoa farmers — is only one of several challenges affecting their crops. The spread of this disease is worsened by prolonged periods of wet weather.
In addition to the black pod, farmers in Ghana and the Ivory Coast face the threat of the cacao swollen shoot virus, which is transmitted by insects. The common method to combat this virus involves the complete removal of infected trees, a drastic but necessary measure to protect the health of the remaining cocoa plants and ensure the continuity of cocoa production.
Given that these countries account for more than 60% of the global cocoa supply, the sharp increase in costs is set to make chocolate products more expensive in supermarkets as people head to stock up on festive treats.
Amid these challenges, major chocolate companies, including Lindt & Sprüngli, are contemplating price hikes. This comes in a context where — despite rising costs, chocolate manufacturers like Hershey and Mondelez, the maker of Cadbury eggs — have reported growing profit margins. Hershey’s reached 16.7% in 2023 from 15.8% the previous year and Mondelez saw a jump to 13.8% from 8.6%.
Yet, there’s a glimmer of hope, according to the U.S. National Confectioners Association. With an estimated 92% of Americans planning to enjoy candy and chocolate this Easter, confectionery sales are expected to exceed $5 billion during the season.