2024-03-22 00:15:43
With Easter just over a week away, will you be willing to pay more for your chocolate? The price of cocoa is rising sharply on the world market, but chocolate makers are trying to adapt.
The frenzy of the last days before Easter is clearly felt at the Chocolaterie Samson, a Trois-Rivières institution. Its owner Nancy Samson and her colleagues work hard to prepare as many pieces as possible for customers, while trying to reduce costs.
The chocolatier was startled when she received the bill for her cocoa butter: its price had doubled. With the constant increase in raw material costs, it has adapted its Easter production.
“We made smaller, more accessible casts so that people could still buy more. I have been working for 30 years to educate the population to eat good chocolate. If people let us down, the profession of chocolatier no longer exists! That’s kind of my philosophy behind the price increase,” explained Ms. Samson.
Over the past year, the price of cocoa has almost tripled on the world market. The problem is that demand remains the same, but production is experiencing difficulties due to the weather.
“About three-quarters of cocoa production is in African countries, mainly in Ivory Coast and Ghana, the neighboring country. Seventy-five percent of production comes from these countries and it’s really a disaster in terms of the harvest,” detailed Simon Brière, senior market strategist at RJ O’Brien.
At Chocolaterie Samson, the increase in in-store prices is 10% compared to last year. This does not seem to slow down the customers encountered on site. However, prices have not finished climbing, particularly over the next year, believes Simon Brière.
“Obviously there is going to be a bidding war for supplies and that is exactly what we are seeing on the markets.”
Meanwhile, Nancy Samson accepts that her profits are declining. The chocolatier relies on her creativity to continue as an entrepreneur.
“For now, I’m living Easter to the fullest, I’m happy. It’s my chocolate party! Then, I try to be as positive as possible about it!”
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