‘Era of cheap chocolate is OVER’, experts warn with prices set to soar – stock up now before it’s too late
The increase in cost will even affect Bake Off
EXPERTS have said the era of cheap chocolate “is over” as they warned a global cocoa shortage will see prices soar.
Cocoa production in West Africa accounts for around 70 per cent of global supply but harvests fell by 11 per cent this year.
Prices hit a record high this month due to El Nino weather conditions, pests and diseases impacting crops.
The cocoa crisis has led to bean costs per ton hitting a record high of £7,800 — up 350 per cent from September 2022 — with further increases likely.
Cadbury‘s owner Mondelez said it will evaluate additional hikes after raising prices by 15 per cent last year.
US giant Hershey CEO Michelle Buck hinted at the same, saying: “Given where cocoa prices are, we will be using every tool in our toolbox, including pricing.”
Now experts have told The Sun that consumers could start stocking up for next year as early as Monday – when stores will slap discounts on unsold stock.
Well-wrapped chocolate — ideally in an airtight container — can have its life extended by at least 50 per cent when frozen.
Chocolatier Jennifer Earle said some types can even just be kept in a cool, dry place.
She told The Sun: “With plain, dark chocolate it will last indefinitely if the eggs are kept sealed in a dark cupboard.”
She added: “Dark chocolate might not be the most appealing to kids, but it could save shoppers a lot of money.
“I have chocolate in my cupboards from years ago.”
Sophie Jewett, owner of York Cocoa House, also suggested storing goodies but added: “I know that if I had a large quantity of chocolate in the house I would struggle to ration it.”
She added: “We need to be rethinking how we consume and source things.
“The era of cheap chocolate is over.”
It comes after it was reported chocolate manufacturers are shrinking Easter eggs.
A Cadbury Dairy Milk Easter Egg has shrunk from 286g to 245g, according to the analysis at major supermarket chains.
Meanwhile Cadbury fans have blasted a shop for advertising chocolate Easter eggs as “gesture eggs”.
Bake Off crisis
CHANNEL 4 chiefs are considering axing Bake Off's much-loved chocolate week amid the global cocoa shortage.
Extreme weather in West Africa’s cocoa-producing countries has left experts warning the cheap chocolate era “is over”.
It means Bake Off bosses are nervous about whether to include its popular chocolate week when the new series starts filming soon.
A source said: “Producers are fairly confident they’ll be able to get their hands on enough cocoa and choccy products for the series.
“It’s more about tone and continuity.
“If there really is a dire lack of chocolate by the time this series airs, it’ll seem a bit out-of-sorts to be displaying gooey, chocolatey wares.
“Bosses know that fans like to try and recreate recipes after they have aired too, which could be a problem if the shortage remains.
“Of course the poor harvests will be having a very real, devastating impact on the farmers who rely on their cocoa crops as their livelihood, so that’s an important consideration too.”
Themed weeks have been cancelled before on the show, hosted by Noel Fielding and Alison Hammond, with judges Paul Hollywood and Prue Leith.
Last year the international challenges were binned following a backlash.
The celebrity edition is currently on air.
Tomorrow’s episode of The Great Stand Up To Cancer Bake Off is set to feature TV personalities Oti Mabuse and Gabby Logan plus comedians David O’Doherty and Suzi Ruffell.