Soaring cocoa prices and ongoing elevated sugar prices may soon result in higher chocolate prices for consumers.
“Our production costs are skyrocketing,” Mr Germanos told“Finding the right balance now is very tricky. Even though we have loyal customers, there is a fine line between having a luxury product and putting it out of reach. There’s a lot of strain on people. Someone who used to buy four or five chocolates here now just buys one.”Haigh’s Chocolates chief operating officer Peter Millard said the Adelaide-based company also might have to increase prices.
Part of the rise in cocoa prices, Mr Millard explained, could be attributed to heavy rain in West Africa accelerating the spread of a rot-causing disease, known as black pod, in some of the world’s big producers. “The last few years have been extremely challenging for food manufacturers and like many, we have experienced significant supply chain challenges and absorbed rising commodity and input costs,” he told“We always hold prices for as long as can. However, we sometimes have to make adjustments to ensure we can continue to manufacture our snacks sustainably and locally in this environment.
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