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Elevated prices for gourmet commodities are already feeding through into those of finished goods.
食品價格的上漲已經影響到了制成品的價格。
The cost of sugar and sweets rose by almost 9% in America in 2023, and several confectionery giants have warned that such goods are likely to become still more expensive over the coming year.
2023年，美國糖和糖果的價格上漲了近9%，幾家糖果巨頭警告說，這些商品在未來一年可能會變得更加昂貴。
In theory, this should depress demand.
理論上，這應該會抑制需求。
Yet there is little sign of higher prices denting consumer appetite so far.
然而，到目前為止，幾乎沒有跡象表明價格上漲會削弱消費者的胃口。
Cake fans have little choice but to hope that prices will fall when El Nino fades, as is expected in June, and that farmers will start to plant more in response to existing prices.
蛋糕狂熱者們別無選擇，只能希望當厄爾尼諾減弱時，價格會下降，就像6月份預計的那樣，農民們會開始種植更多的作物，以應對現有的價格。
Any respite will probably prove short-lived, however.
然而，任何喘息都可能是短暫的。
The EU’s “Deforestation-free Regulation”—tough new rules for exports into the bloc, which cover cocoa, coffee and palm oil—will come into force at the end of 2024.
歐盟的“無砍伐條例”——針對向歐盟出口的嚴格新規(guī)定，涵蓋可可、咖啡和棕櫚油——將于2024年底生效。
Increased compliance costs and uncertainty regarding enforcement may prompt European importers to stockpile before the deadline.
合規(guī)成本的增加和執(zhí)法的不確定性可能促使歐洲進口商在最后期限之前囤積產品。
Since Europe typically accounts for a third of global cocoa and coffee imports, such a rush for supply would give global markets a jolt.
由于歐洲產量通常占全球可可和咖啡進口量的三分之一，這種供應熱潮將給全球市場帶來沖擊。
More worrying still are longer-lasting phenomena.
令人愈發(fā)擔憂的是更持久的現象。
In Ghana and Ivory Coast the prices at which farmers sell to wholesalers, which are fixed by the state, remain too low; something Paul Joule of Rabobank, a Dutch lender, says discourages new planting despite sky-high global prices.
在加納和科特迪瓦，農民賣給批發(fā)商的價格(由國家規(guī)定)仍然過低; 荷蘭合作銀行的保羅·焦耳表示，盡管全球糧價飆升，這仍舊阻礙了新的種植。
He does not expect policies to change soon.
他預計政策不會很快改變。
And as climate change makes extreme weather more frequent, the risk that several crucial production regions suffer at the same time—and that the world’s biggest producers curb exports in response—only rises.
隨著氣候變化使極端天氣更加頻繁，幾個關鍵產區(qū)同時遭受影響以及世界上最大的生產國為此限制出口的風險只會增加。
Thus consumers will have to pay up.
因此，消費者將不得不付更多的錢。
Farmers will keep missing out.
農民將繼續(xù)錯失良機。
And the middlemen who feed on price swings will grab an ever greater slice of the pie.
依靠價格波動為生的中間商將分得更大的一塊蛋糕。
