🤎 Cocoa Prices Rise 100%+. Fewer Teen Moms. Leadership Survey.
Chart of the Day #28 looks at Rising Cocoa Prices, Birth Rates by Age of Mother and Results From a Leadership & Development Survey.
Akwaaba 👋
Hershey Co. has announced it is cutting 5% of its workforce after rising cocoa prices and inflation-fatigued shoppers dampened earnings. California Cultured, a West Sacramento-based startup specializing in plant cell culture, has partnered with Meiji Ltd. Co., Japan’s largest chocolate company, to make cell-cultured cocoa products.
Today's Topics
- 🤎 Cocoa Prices. Cocoa Prices Increase 100%+ Since January 2023
- 🍼 Teenage Moms. Decline in Teen Mom Birth Rates
- 🧑💼Leadership & Development Survey. Management Training Voted Top Priority Subject
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🤎 Cocoa Prices Increase 100%+ Since January 2023
The price of the key ingredient in chocolate has reached an all-time high, just in time for Valentine's Day. Cocoa prices have been on the rise, increasing by 104% over the last 12 months. Bad weather conditions in Ghana and Ivory Coast, where 60% of cocoa production comes from, have damaged crop yields. Destructive diseases have also destroyed over half a million sectors in Ghana and have been an ongoing challenge in West Africa, reducing cocoa production and affecting the livelihoods of many farmers.
🍼 Decline in Teen Mom Birth Rates
Birth rates for teenage mothers in the US have seen a significant decline over the years, with the birth rate for moms aged 15-17 declining by 36% from 2016-2021. Birth rates in older age groups (18-19) also experienced a decline in the same period of nearly 30%. This drop results from increasing awareness of contraception through the rapid growth of social media and the higher availability of effective contraceptive methods, with dual contraception methods being used more frequently. Pregnancy prevention programs aimed at teenagers are also on the rise, which plays a part in the reduction.
Additionally, changing social attitudes towards childbearing norms could influence the rate of teenage pregnancies. Birth rates for mothers aged 20-29 have also declined, while the 35-39 age group has seen a slight increase, suggesting that mothers are choosing to have children later in life, which may be the 'new normal'. According to a US survey, Americans are getting married later in life, which invariably delays the process of having children and shifts fertility patterns.
🛍️ Management Training Voted as Top Priority Subject
Leadership and Management Training was voted as the top priority subject in a survey of US based Leadership & Development teams in 2022. 45% of respondents voted this to be the most important subject, which is unsurprising as the pandemic highlighted the importance of management-employee relationships. As workplaces evolve and shift towards flexible work styles such as remote and hybrid structures, it is essential that leadership styles evolve with these patterns. With employees working across locations, time zones, and varying cultures, the need to build a cohesive team is even more apparent and requires strong management skills.
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