Since the spring of 2023, the price of cocoa has experienced a strong increase, surpassing $10,000 per ton for the first time in history. The causes of this price hike are diverse, and the consequences ultimately end up affecting consumers’ wallets.
However, changes in raw material prices do not always directly translate into the prices of final products. To determine how cocoa inflation is affecting families, the Organization of Consumers and Users (OCU) has analyzed how the prices of some foods containing chocolate have evolved in recent months.
“We have observed the evolution from last September to April 2024 of some products containing cocoa, including those in our price observatory basket, such as Cola-Cao, chocolate Donettes, Oreo cookies, and Nestlé milk chocolate bars. They are all foods that contain chocolate, but also other ingredients, as they are not pure cocoa, so the impact of cocoa prices affects only a part of the product,” the organization indicates.
From September to April
- According to their observations, the 760-gram Cola-Cao experienced an average price increase of 14% between September (5.68 euros) and December (6.44 euros), while in recent months some supermarkets have offered it and, on average, its price has decreased by 4% (6.18 euros). With all this, the average increase since December has been 9%.
- The classic 8-unit Donettes, on the other hand, have experienced an average increase of 6% in recent months (from 2.44 to 2.59 euros), although in the last three months they have hardly changed.
- As for Oreo cookies, these have increased in price by an average of 6% in the last three months, while over the entire period, 7%. Thus, they have gone from 1.37 to 1.46 euros.
- Finally, the 125-gram Nestlé milk chocolate bar has increased by an average of 11% in the last 6 months (from 1.26 to 1.40 euros), but almost all of that increase occurred in the first 3 months of 2024.
These figures show that the products have experienced price increases, although they are “not much higher than those experienced by other foods.” Therefore, the organization leans towards the belief that the rise in cocoa prices in international markets has not yet been passed on to the shelves.
“Manufacturers may be using stocks of previously purchased cocoa until they are depleted,” predicts the organization. Additionally, “major brands may have cocoa supply contracts with a set price for a period of time, so they have not yet felt the increase in the current international market. Thus, when they sign new contracts, it is expected that there will be further price increases,” the organization considers.
