Global chocolate prices will remain high for a long time

Published Apr 12, 2024

Tridge summary

The article highlights the challenges faced by the Belgian chocolate industry due to rising cocoa prices, driven by poor harvests in Ivory Coast and Ghana, which are major cocoa producers. Mieke Callebaut, a consultant for the Royal Belgian Biscuit, Chocolate, and Confectionery Association, discusses the impact of these price increases on the industry, which is crucial to Belgium's economy with an annual worth of 6.1 billion Euros and exports of 3.4 billion Euros. The article also explores the diverse product range and pricing strategies within the sector, from premium chocolates to more affordable options, and the broader implications for companies as they navigate these challenges.

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

Original content

While the price increase in cocoa put chocolate producers under unprecedented cost pressure, this situation was reflected in product prices. In Belgium, which is world-famous for its chocolate, this product stands out as both an important area of economic activity and an important part of the country's culture. In addition to its high quality, Belgian chocolate also attracts attention with its praline type, which contains various flavors and fillings. Approximately 9 thousand people are employed in the sector, while there are also boutique chocolate shops selling hundreds of handmade and quality products from some major manufacturers in the country. The annual turnover of the chocolate industry in Belgium exceeds 6 billion Euros. IVORY COAST AND GHANA'S SHARE IN PRODUCTION IS 60 PERCENT Mieke Callebaut, Consultant of the Royal Belgian Biscuit, Chocolate and Confectionery Association (Choprabisco), evaluated the increase in cocoa prices and the situation of the industry. Stating ...

Source: Bursahakimiyet