2023-10-25 13:20:27
Your little chocolate moment could cost you more soon. Chocolate and chocolate product professionals are experiencing an increase in production costs. In question ? The rise in the price of cocoa, the raw material used in the production of products, reports BFMTV.
The futures contract for a tonne of cocoa reached 3,786 dollars (3,579 euros) in New York on Monday, its highest level since 1979 and an increase of 60% in one year. This historic increase is explained by a strong imbalance between supply and demand. Consumers still want as much (or more) chocolate but the supply has recently reduced.
The climate largely to blame
Cocoa production in West Africa, which supplies 75% of the world market, is declining. Unfavorable climatic conditions, notably intense rains, have disrupted cocoa production in Côte d’Ivoire, which accounts for 40% of world production. Plantations in Ghana (20% of the world market) were also affected.
And the production forecasts are not good. Since the cocoa tree needs optimal and stable weather conditions to guarantee good production, the plantations are threatened. The El Niño phenomenon, expected for the first half of 2024, could cause episodes of drought in West Africa, causing a loss of 10% in production.
The price of sugar also on the rise
The rise in the price of cocoa is not the only data to take into account. The price of the finished product is also impacted by increases in the cost of transport, processing, packaging, distribution and even marketing. Already in March 2023, traditional Easter chocolates were 10% more expensive than the previous year.
The increase in the price of sugar (+52% in one year), resulting from poor weather conditions, will also impact the price of chocolate products. Faced with this, consumers are trembling and manufacturers are getting organized. The Belgian distributor Colruyt and the Dutch Jumbo have already announced that they will not increase their prices.
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