Chocolate prices are expected to rise as the cost of cocoa, a key ingredient, continues to increase.
Statistics from New Zealand show grocery food prices went up by 2.4% in the past year, partly due to higher chocolate costs. The price of a 250g block of chocolate has increased by 20% over the year, reaching $5.56 in August.
The rising cost of cocoa is a major factor, with global cocoa prices soaring by over 170% due to supply shortages. Whittakers, a chocolate manufacturer, said cocoa supply constraints have significantly pushed up costs, affecting the price of chocolate. They try to keep prices stable, but continuous cost increases may force further price hikes.
Experts like Brad Olsen from Infometrics warn that more price increases could be on the way. He noted that cocoa prices have doubled since last year and are nearly triple the rate of two years ago. Cocoa supply issues in West Africa, where 75% of the world’s cocoa is grown, are a major cause, with dry weather impacting production.
Despite higher prices, people still consider chocolate a “necessary luxury,” so many are likely to keep buying it. However, with costs rising and supply issues persisting, chocolate may soon become an even more expensive treat.
very interesting
I loved reading it because, I never knew that maybe chocolate might be gone in the future!
save the chocolate…
I enjoyed this reading because
it show what climate changes does!!
they might have to move most chocolate into a colder place, since the climate clock is getting low
so temperature might get higher.
i love chocolate
I’m allergic to dairy, but this makes me sad for my best friends all around NZ (don’t think it’s weird because I actually do). And my chocolate loving cousin, her name is Dana (I’m from South Korea and she told me how to spell her name in Korean but its not pronounced like Dana).
I know that there are chocolate lovers around the world so, poor them or if you like chocolate poor you (even though I’m allergic to dairy, or to make it easy dairy products: cheese, milk, butter etc).