Shoppers may face higher prices for chocolate this Easter as changing climate patterns impact global cocoa supplies and farmers’ earnings in West Africa. The dusty seasonal winds from the Sahara and heavy rainfall have reduced sunlight needed for bean pods to grow, leading to a drop in exports from top producer Ivory Coast. As a result, the global price of cocoa has more than doubled, with major confectionery companies increasing prices to consumers to maintain profit margins.
Companies like The Hershey Company and Mondelez International have reported profit increases due to higher cocoa prices, passing on the cost to consumers. Mondelez raised chocolate prices up to 15% last year and is considering further hikes to meet revenue growth forecasts. Hershey’s has also raised prices and hasn’t ruled out additional increases. This has led to some consumer groups finding popular chocolate brands like Lindt and Toblerone costing about 50% more this year in the UK.
Farmers in West Africa blame climate change for their poor crops, as the weather conditions have affected cacao tree growth and production. The harmattan, a cool wind carrying dust that blocks sunlight, and months of rain have led to black pod disease, causing cacao pods to rot. Farmers struggle with lower production, higher costs, and fluctuating exchange rates, making it challenging to survive. Authorities are promoting education on farming methods and pledging support to help farmers get a better deal in the next cocoa season.
Despite rising chocolate prices, the National Retail Federation expects Easter candy spending to remain high. Swiss chocolate consumption has slightly decreased due to retail price increases with significant profitability reported by chocolate makers like Lindt & Sprüngli. Smaller chocolate businesses, like London’s Sandrine Chocolates, are finding it difficult to cope with the spike in cocoa prices, leading to declining sales. Owner Niaz Mardan struggles to keep the business afloat amid economic difficulties.
In efforts to increase cocoa production, authorities are looking into solutions like irrigation systems and promising support for farmers. The challenges faced by farmers, fluctuating cocoa prices, and increased chocolate costs are impacting both producers and consumers globally. As the Easter season approaches, shoppers may have to pay more for their chocolate treats, reflecting the ongoing impact of climate change on cocoa supplies and the chocolate industry.
