Unprecedented cocoa bean prices are impacting the cost of chocolate, putting a strain on chocolatiers and potentially raising consumer prices. This Valentine's Day, the beloved treat might come with a heftier price tag due to factors like climate change, disease, and global demand.
always seek to show how deep your love is. This year, it might just also show how deep your pockets are.
Some just close for Valentine, he said, turning one of the few financial bonanzas of the year into a forced vacation, hoping that Easter, with its eggs and bunnies, will bring better tidings. Many chocolatiers can’t go for the usual profit margins and turn all the extra costs of the cocoa prices over to their customers. Persoone said that his chocolates increased in price by 20% over the last year alone while de Selliers said that it depends very much from producer to producer.
At the same time across the world, populations lifted themselves out of poverty, middle classes expanded in places like China and the craving for the delicacy increased.And making matters worse, the years of slumping prices for the beans simply drove farmers off the land to look for a better future in the cities and pushed production further down. De Selliers said that “60 per cent of cocoa comes from Ivory Coast and Ghana and these farmers have to make a better living.
CHOCOLATE COCOA PRICES CLIMATE CHANGE VALENTINES DAY FAIR TRADE
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