With Easter approaching, chocolate enthusiasts are eagerly anticipating indulging in the sweet treat. Julianna Tan, a chocolatier and owner of Those Girls at the Market in Saskatoon, has been struggling to keep up with demand as the long weekend approaches. Despite almost selling out of pre-orders, Tan has concerns about rising cocoa prices that are nearly 65 percent higher than a year ago, with New York futures prices at a 46-year high. The surge in prices is due to various factors such as plant disease in Africa and heavy rains disrupting the supply chain.
The cocoa price increase is expected to impact the confection business, with Hershey’s chief financial officer, Steven Voskuil, expressing concerns about the margin impact due to cocoa. Tan, like many other business owners, is nervous about the challenges ahead, as business is always a roller coaster with constant hurdles to overcome. She acknowledges that there will always be obstacles to face, whether it’s the economy, rising prices, or the ongoing pandemic. Despite the potential challenges, Tan is determined to navigate through the uncertainties and find ways to adapt to the changing landscape.
While the price spike has not yet affected Tan’s business, she is preparing for a significant jump in raw ingredient costs in the near future. Tan recognizes the need to pivot and think creatively about how to navigate through the upcoming price increases. She plans to experiment with incorporating frozen dried fruits into her confectioneries as a way to diversify her product offerings and mitigate the impact of rising cocoa prices. Tan believes that being innovative and thinking outside of the traditional chocolate-making process will be essential for sustaining her business in the face of these challenges.
Despite the looming price spike and uncertain circumstances, Tan remains optimistic and sees the situation as an opportunity to explore new ways of utilizing chocolate in her products. By embracing creativity and thinking outside of the chocolate box, Tan hopes to find alternative solutions to keep her business thriving in the midst of rising cocoa prices. While the road ahead may be challenging, Tan’s determination to adapt and innovate suggests that she is prepared to overcome the obstacles and continue delighting chocolate enthusiasts with her unique confectioneries.
As the chocolate industry faces unprecedented challenges with rising cocoa prices, chocolatiers like Julianna Tan are finding ways to adapt and innovate in response to the changing landscape. Tan’s experience underscores the need for resilience and creativity in navigating through uncertain times and finding new opportunities for growth. By embracing change and exploring alternative approaches to chocolate-making, Tan and other local chocolate shops are positioning themselves for success in the face of rising raw material costs and external challenges. Despite the uncertainties ahead, Tan remains optimistic about the future and looks forward to discovering new ways to delight her customers with innovative chocolate creations.
