Our favourite Easter treat, the chocolate egg comes at a dearer price this year. As the UK Daily Mail reports Easter eggs are costing up to 64 per cent more this year because of the soaring price of chocolate. On average, buyers must shell out 21 per cent more for treats compared with last year, but price rises for some popular brands are much higher. This unprecedented price spike is the result of a number of factors: commodity prices like cocoa and sugar used by the confectionary industry have been rising globally, political unrest in the Ivory Coast, the world’s biggest supplier of cocoa, rising world demand and scarce supply. In Italy Altroconsumo is reporting on Easter eggs being an average of 13% more expensive than last year, with peaks of 40% increases for some brands. When we are faced with these supply/demand scenarios, speculation is never too far away: reportedly chocolate bars are some 64% to 83% cheaper than easter eggs based on same chocolate weight. The egg surprise and packaging aren’t enough to justify such price difference, the product’s seasonality does indeed demand a premium price, but it’s obvious that chocolate manufacturers are trying to make an extra buck off your chocolate addiction! Happy Easter everyone!
food insider 