Chocolates to cost more as cocoa, sugar prices rise

Chocolates to cost more as cocoa, sugar prices rise

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Consumers have to pay more for Chocolates this year as prices for coca and other confectionery making ingredients rises. The German Press Agency quoted the executive director of the confectionery trade association Sweets Global Network, Hans Strohmaier as saying “Due to higher costs of cocoa, sugar and other ingredients further price increases has to be feared.” He was speaking on a congress in Munich.

The average price for the chocolate in the many European supermarkets falls around one euro for a 100-gram bar. This could be cracked this year on a wider basis. Some of the big brands have already started hiking the prices. Last year the Chocolate prices increased by five percent. The amount consumed, however, is in Germany for many years remained stable at around nine kilos per person – the equivalent of 90 bars. With the appetite for sweets grew increasingly in many countries around the globe, the manufactures, especially in Africa, weren’t able to produce the required ingredients in a similar pace. This is regarded as a prime reason for the price hike.

The medium-sized confectionery market sector with around 200 companies struggle to cope with the rise in raw material costs. Operational tasks also cannot be ruled out because of the enormous cost pressures, Strohmaier included.

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