Whittaker’s prices to rise again due to Cocoa Shortage

November 22, 2024

Share to Google Classroom

Whittaker’s, the popular New Zealand chocolate company, announced it will raise prices starting Monday, November 18, due to a global cocoa shortage.

This is the second price hike this year, following a similar increase in May. The company cited the rising cost of ingredients as the reason for the change.

In a statement on Facebook, Whittaker’s expressed understanding of how significant a price increase can be for its customers. They assured fans that the price adjustment is necessary to maintain the quality, size, and ethical standards of their chocolate products.

The company explained that it sells its chocolate to retailers at a Recommended Retail Price, but the final cost to customers is set by individual stores. Whittaker’s emphasised that using the finest ingredients and supporting ethical cocoa sourcing remain top priorities.

The cocoa shortage has had a global impact, with production in Africa, which supplies 70% of the world’s cocoa, dropping by about 40% this year. Whittaker’s, which historically sourced cocoa exclusively from Ghana, now supplements its supply with beans from other parts of Africa that meet its high standards.

Co-chief operating officer Matt Whittaker said last month that the cocoa shortage is likely to persist, affecting chocolate prices worldwide in the future.

LEARNING OPTIONS