Cocoa and chocolate will soon be a luxury
Chocolate and cocoa prices are rising, as one of the world’s largest cocoa exporting countries, Nigeria, has a problem with the cash supply, which has caused exports to drop by about three quarters. Overall, this is not a big drop in the global market, but the drier weather that damages the plantations also increases the panic.
Despite the record inflation, the price of cocoa rose more moderately compared to most other foodstuffs: in the European Union in December 2022, the price of cocoa and cocoa powder was on average 12.6 percent higher than a year earlier, according to Eurostat data. The consumer price of chocolate was 9.6 percent higher than a year earlier, reports Napi.hu.
In Hungary, similar to most food products, the consumer price of cocoa increased by 28.2 percent, while that of chocolate increased by 27.1 percent. The domestic price increase was the largest in the EU, but it still lags behind, for example, the 80 percent increase in the price of dairy products.
Related news
Valentine’s Day chocolate gift giving has become a luxury
In Belgium, Valentine’s Day chocolates have traditionally symbolized the intensity…
Read more >KSH: in January, consumer prices exceeded the values of the same month of the previous year by 5.5 percent on average
Compared to January 2024, food prices increased by 6.0 percent,…
Read more >Shrinkage inflation affects more and more products
Shrinkage inflation continued in January 2025, with more food and…
Read more >Related news
KSH: Food industry sales prices rose by 6.1 percent in January
In January 2025, industrial producer prices were up by an…
Read more >Consumer protection agency inspects Easter hams, fruit juices and gluten-free products
The National Trade and Consumer Protection Authority (NKFH) has begun…
Read more >Máté Lóga: 2025 could be the year of taking off
The dynamic expansion of retail turnover shows that after the…
Read more >