Rising price is bitter news for chocolate lovers
Higher demand and bad weather have conspired to raise the price of the major ingredient of a chocolate bar. So expect the cost to climb, especially for the good stuff.
This post comes from Brandon Ballenger at partner site Money Talks News.
Rising demand in India along with bad weather for cocoa crops in Ivory Coast, Ghana and Indonesia are driving costs up, CNNMoney says. The price of cocoa butter, which is used to make chocolate, is at a four-year high, and it's up 70% in just the past year.
The cost of making the average milk chocolate bar is up 25% in the past year, too, according to British trade magazine The Grocer. But retail prices in the U.S. have risen by only 7%, CNNMoney says, because the big chocolate makers want to avoid pricing consumers out of their cravings.
If you like higher-quality dark chocolate, you'll probably see prices going up much more.
"Those are made by smaller manufacturers and they're less able to absorb extra costs compared to the bigger manufacturers," Peter Greweling, a professor of baking and pastry arts at the Culinary Institute of America, told CNNMoney.
What's a chocolate lover to do? Forbes contributor Doug Bandow proposes we create a Department of Chocolate and a chocolate welfare program to manage the "global chocolate crisis."
If you want a unilateral solution, however, maybe wait until Nov. 1 and then stuff your freezer full of all the discounted Halloween leftovers. After all, as I write this, we don't even have a functioning government. (Just thinking about it makes me want some chocolate.)
More on Money Talks News:
We are being told that dark chocolate is good for us, so as soon as we start buying it they raise the price.
Par for the course. We all know for less than $5.00 you can easily purchase 3 hamburgers, a side of fries and a soda, from a dollar menu, but try buying healthy fruits and vegetables for the same price.
Outsourcing, yea the Communist Chinese ate our lunch and now they are eating our chocolate!
Bad enough they gave them every living wage job we had now they are stealing our candy!
As any true connoisseur of fine chocolate knows, it's not about the sugar, it's about the chocolate. My three favorites are Godiva truffles Rum, Grand Marnier, and Champagne.
Now, that may seem extravagant to some, however, you'll only require one piece and then, you're good 'til tomorrow.
"...wait until Nov. 1 and then stuff your freezer full of all the discounted Halloween leftovers."
Freeze my chocolate? No way. And, why would I want to keep that cheap stuff that's left over from Halloween to begin with? Does the person who wrote this even eat real chocolate?
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