Kimberly Grabham
18 October 2024, 7:00 PM
Chocolate aficionados may need to buckle up, with prices of the silky goodness expected to rise, due to a continuing cocoa catastrophe.
The cost of the little magic bean which is a key ingredient in our beloved sweet reached a record peak in April.
A report has suggested the climbing prices will hit customers by early next year.
Rhiannon Druce, whose family runs an organic chocolate factory in Junee, NSW, said the industry has been bracing for the impacts of the crisis.
She said the business had increased its prices a little, and would have to reassess those amounts in the new year.
"We do want people to be aware of the price rise of the raw ingredients in general, but to not worry too much about it impacting their Christmas," she told ABC News.
Experts say the chocolate calamity was triggered by manufacture problems in West Africa, the origin of 70 per cent of the world's cocoa.
The big problems are plant disease, farmers leaving the industry and trees aging and therefore producing less product.
The price of cocoa has started to decrease, but we aren’t out of the woods yet as consumers.
The big guns of the chocolate making world lock in buying prices set as far back as 18 months ago.
This means while there is a delay between the big boys paying the higher price and it showing on your shopping docket, but it will get there.
Although the Junee Chocolate Factory attains its cocoa from the Dominican Republic and Vanuatu, Ms Druce told ABC News the decreased supply from Africa was having flow-on impacts.
"We never thought it would touch the organic side as much as it has," she said.
Cocoa is not the only component rising in cost, with sugar values also high for well over a year.
Ms Druce said every part of creating chocolate is now more costly as a result.
"There's a lot of products that are just on the rise in general," she said.