Are we in for the most expensive Christmas in history? The price of cocoa is reaching records, chocolate has become more expensive, and with it also Christmas baking. Added to this is the increase in the prices of butter, eggs and coffee. Christmas 2024 will be sweet, but at the price of a really bitter cost.
Cocoa on the brink of crisis: Why did chocolate become more expensive?
According to the TN.cz report, cocoa bean stocks are the lowest since 2005. Heavy rains and prolonged droughts have affected crops in countries such as Ghana, Brazil and the Ivory Coast. The situation is also worsened by farmers switching to other crops such as rubber for higher yields.
“Cocoa is in short supply, and that pushes prices up. The new cacao trees will begin to bear fruit in three years at the earliest,” explained economist Pavel Peterka for TN.cz. This shortage was reflected not only in the prices of chocolate, but also in all sweets – from chocolate figures to candies.
At the same time, experts warn that prices will not drop before Christmas. The only way to save is to shop at discounts and limit consumption. “The power is in the hands of the consumer – if they refuse to pay for expensive products, retailers will have to respond,” added Peterka.
Slovak Christmas: Cocoa and chocolate as luxury
The Slovak source STVR confirms the situation: the prices of cocoa on world markets have increased several times, which is directly reflected in the prices of sweets. According to analyst Eva Sadovská, it has increased the price of milk chocolate in Slovakia by 15% compared to last year. A similar growth can also be observed with cocoa powder, which is the basis of Christmas baking.
“Chocolate is now more expensive and at the same time it is pushing up the prices of sweets as a whole,” said Sadovská. Reasons? In addition to the lack of cocoa, pests and high fertilizer prices are also behind this. Chocolate producer Karol Stýblo points out that farmers are no longer able to invest in fertilizers, which reduces the harvest for the following years.
Christmas baking: Home confectioners will feel it
Artisanal confectioneries and households report an increase in costs. According to STVR, confectioneries consume tens of kilograms of cocoa and chocolate every month. “If we want to maintain quality, we have to raise the price. The consumer has to understand that,” stated Veronika Záhorská, the owner of a confectionery in Nitra.
Customers are not skimping on Christmas baking yet. “It’s once a year and people want to treat themselves,” added Záhorská. But you can’t count on a discount even after the holidays. According to Stýbl, chocolate with a high cocoa content can become a luxury product, while manufacturers will increasingly use cheaper alternatives such as biscuits or nuts.
What awaits us next?
The situation on world markets will not improve anytime soon. Cocoa is becoming a strategic commodity and, together with other foodstuffs, is putting pressure on the wallets of Slovaks and Czechs. This Christmas may be tasty, but it will definitely be expensive.
Source: TN.cz, STVR
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