Chocolate producers may raise prices due to rising cocoa prices – Kommersant

Against the backdrop of a global shortage of cocoa beans, industrial chocolate producers and Russian confectioners are forced to increase product prices. About it RBC market participants said. In 2024, prices could rise by 15–20%.

A letter from Barry Callebaut NL Russia, the Russian subsidiary of the world’s largest manufacturer of industrial chocolate and cocoa products – the Swiss company Barry Callebaut, speaks of an upcoming increase in product prices. The letter is dated early December. It is expected that from the beginning of next year the weighted average increase in selling prices will be 20%.

Confectionery manufacturers received a letter from Barry Callebaut, this was announced by Dmitry Vostrikov, executive director of the Rusprodsoyuz association. Barry Callebaut cites rising prices for raw materials, packaging and logistics, as well as the weakening of the ruble as the reasons for the increase in selling prices.

Cocoa beans are grown in Africa and South America. Russia uses imported raw materials to produce chocolate. The manager of the Moscow region confectionery factory “Gospodar” (produces mainly cakes), Sergei Surmach, said that over the year, prices for raw materials increased by an average of 30–50%, and prices for transport packaging and containers – by 50%. The general director of the Alkion factory, Alexey Grachev, said that beans have risen two to three times in price over the year.

Prices for chocolate from manufacturers depend on the purchase of cocoa on the exchange. Over the past three years, prices have been rising due to a low cocoa bean harvest. According to Reutersat the end of June this year, prices for cocoa beans rose to the highest level in 46 years: the cost of a ton of cocoa for delivery in September on the Intercontinental Exchange in London amounted to 2.6 thousand pounds sterling, or $3.2 thousand. In January— June futures for cocoa beans rose in price on the London ICE Futures exchange by 32%, which is higher than the NASDAQ Composite index (31.73%).

Anastasia Larina