Spain: Chocolate soars another 17% due to the cost of cocoa and its scarce supply

Published 2024년 9월 16일

Tridge summary

Chocolate prices have hit a record high, increasing by 16.9% due to a rise in cocoa prices caused by supply constraints and strong demand from the processing sector. Despite these high prices, sales of cocoa and its derivatives in Spain, the leading category of sweets in the country, have increased by 8% to 1,968 million euros in 2023. The demand for cocoa from the processing industry remains high, leading to a production deficit of 462,000 tonnes for the 2023-2024 season, primarily due to adverse weather conditions, aging trees, pests, and diseases in major cocoa-producing areas like the Ivory Coast and Ghana.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chocolate has reached its highest consumer price index ever, up 16.9%, partly due to the rise in the price of cocoa on international markets as a result of supply constraints and unabated demand from the processing sector. Cocoa and its derivatives are, despite everything, the leading category of sweets in Spain, with 1,968 million euros in sales in terms of consumption in 2023, 8% more than the previous year, according to data from the Spanish Sweets Association (Produlce), which represents the main companies in the sector. The preferred format for consumers is the tablet, with 35% of these sales, while 22% of shipments are concentrated in soluble or cup cocoa, 18% in the chocolate category, 13% in appetizers or snacks and 12% in spreadable creams. The category occupies the third position in the total exports of the Spanish confectionery industry, with 573 million euros in 2023, 15% more in 2022, with France, Portugal and the United Kingdom as the main destinations. The love for ...

Source: Lne