Chocolate lovers may be in for a shock this Valentine’s Day as the high cost of cocoa beans takes its toll on wallets. The price of cocoa has skyrocketed to unprecedented levels, making it difficult for chocolatiers to maintain their businesses.
According to Philippe de Sellier, head of Belgian chocolate federation Choprabisco, cocoa prices have increased by 2-2.5 years, with the cost per ton reaching over $10,000. This is the highest price in 50 years and has a significant impact on Belgium’s 280 chocolate companies.
Many chocolatiers are struggling to make ends meet due to the high costs. Dominque Persoone, owner of Chocolate Line brand, said that his chocolates have increased in price by 20% over the last year alone. Others have been forced to close shop during Valentine’s week, as the increased costs become too much to bear.
The surge in cocoa prices is attributed to a combination of factors, including climate change, disease, and commodity speculation. The decline in production has led to higher prices, which are then passed on to consumers. However, some experts argue that this is not sustainable and that legislation should be implemented to prevent low prices from driving farmers out of the industry.
As the chocolate industry grapples with the issue, many are left wondering whether it’s worth the guilt. While the cost of cocoa may be high, many believe that it’s still a small luxury that most people can afford.
Source: https://apnews.com/article/valentine-love-chocolate-belgium-cocoa-farmers-116b285ccb6542480c1c887f38a6b16a