2024-04-01 17:40:02
Easter weekend is coming to an end and you’ve probably enjoyed plenty of chocolatey treats. So you’ve probably noticed: chocolate eggs are a little more expensive this year. Bad news, we expect an even greater price increase next year, due to the very sharp rise in cocoa prices.
Will chocolate, one of our national specialties, become a luxury product? “The price is in any case in line with the price of cocoa beans, which has increased significantly,” explains our journalist Laura Van Lerberghe. “The price of cocoa is flying from record to record, a level never reached in 50 years. Over the past year, it increased by 130% in one year, its price was at the same level as that of leather“.
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So how can we explain this price increase? Several factors according to specialists. First of all, consumption has doubled over the last decade, with strong growth in Asia. Then, climatic problems: torrential rains and droughts have impacted cocoa cultivation in West Africa. “Inflation has also caused a liquidity crisis, preventing suppliers from purchasing fertilizers or pesticides at affordable prices. Result: the harvests were quite bad“, specifies our journalist.
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Prices are therefore not ready to fall. How are manufacturers adapting to this? “They are faced with a dilemma: either they increase their prices or they reduce their margins. Some manufacturers have instead chosen to eliminate or reduce chocolate. This is particularly the case of a famous brand which decided to reduce its chocolate bar by 10g. Others still prefer to replace chocolate with hazelnuts or palm oil to reduce costs.“.
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