Chocolate Prices on the Rise
Love chocolate? You have lots of company. Increased consumption in Asia and Latin America and an upswing in sales in Europe and the U.S. have brought global chocolate demand to an all-time high. The bad news is that manufacturers are facing an unprecedented rise in the price of cocoa butter, the almost-magical ingredient which helps give chocolate its creamy, irresistible texture.
According to global market researcher Euromonitor International, chocolate lovers are expected to consume 7.4 million metric tons of the sweet treat this year – up from 6.9 million metric tons in 2009. While demand is increasing, unusually dry weather in West Africa, where the majority of cocoa beans are produced, is affecting supply. As a result, cocoa butter prices have nearly doubled in the last six months. Seasonal pressures won’t help the situation. Chocolate sales surge dramatically in Europe and North America around Christmas, putting even more pressure on chocolate makers.
So what’s a chocoholic to do? To blunt any potential price increases, we recommend stocking up now. Pick your favorites from our Top 10 Chocolate Bars list and place a few orders. Then have the willpower to save some for later. If prices for the Good & Evil Chocolate Bar and Amedei start approaching $200 a pound, you can boast how you bought low and savored high.