AKORT: some chocolate manufacturers have notified that prices will increase
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Some chocolate manufacturers have sent notices to retail chains about price increases for their products. About this in the commentary to RIA Novosti told Chairman of the Presidium of the Association of Retail Trade Companies (AKORT; unites X5 Group, “Magnet“, Auchan, “Ribbon“, etc.) Igor Karavaev, clarifying that for now there is no need to talk about a widespread increase in retail prices.
“A number of retail chains – members of AKORT – received notifications from some manufacturers about increasing prices for chocolate. These requests are being reviewed by retailers: as in other product categories, chains, together with suppliers, discuss the feasibility of each individual increase and make joint efforts to avoid sharp price increases,” he said.
According to him, it is now premature to talk about a one-time increase in retail prices. This is facilitated by a wide range of products, promotions, as well as various retailer loyalty programs. Karavaev also noted that the confectionery category is one of the largest in terms of sales volume.
Previously Bloomberg reportedCocoa prices have risen about 47% over the past year on fears that bad weather and crop disease will damage production in Ivory Coast and Ghana, which account for two-thirds of global supplies. In mid-September, New York cocoa futures for December delivery hit a 12-year high, approaching prices last seen in 1979 at $3,856 a ton. On October 27, the price exceeded $3,862 per ton.
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