You may have heard in the news recently that the cost of making and buying chocolate in the UK has risen sharply over the past year. This is reportedly because of the effects of climate change, which is damaging cocoa crops cultivated in West Africa. According to BBC News, a shortage of cocoa beans resulting from extreme weather has seen prices soar to almost $8,500 (£6,700) per tonne – more than treble since this time last year and double during the last three months alone.
This has undoubtedly had an impact on chocolate production around the world and here in the UK, research by Which? has found that some of the most popular Easter eggs have risen in price by 50% or more. This is because we import our cocoa beans from Côte d’Ivoire and Ghana (in 2023, 58m kilogrammes of cocoa beans worth £127m were imported to the UK) – a region which has endured an ongoing and dangerous heatwave.
Although chocolate makers usually buy their cocoa beans months in advance of their busiest periods, soaring crop prices are now beginning to affect production costs. By February this year, Mondelez (owners of Cadbury) were warning that rising cocoa prices could drive up the price of chocolate around the world.
According to a recent Which? report, the current UK chocolate inflation rate stands at 12.6% compared to last year – which is far higher than the current food and drink inflation rate of 5.6% in supermarkets.
Some of our most recognisable chocolates have also reduced in size since last year – a trend which has become known as “shrinkflation”. (For example, Which? found that a Terry’s Chocolate Orange Easter egg has shrunk from 230g to 200g). If you visit your local supermarket, you’ll find that some of your favourite Easter eggs including Maltesers, Lindt and Cadbury cost a whopping 50% more than they did last year- and some of these have also shrunk in size!
Here at Maldon Chocolates, we’re proud to say that our prices have remained highly competitive in recent years. To meet current economic challenges, we have raised our chocolate prices by only 8% over the past 18 months. And because all our chocolate is individually made at our shop here in west Norfolk, we don’t believe in ‘shrinkflation’ – so all our (completely handmade) Easter eggs, bars and loose chocolates are the same size, taste, and quality as they’ve always been!
We strongly believe in providing value to all our customers and that it always pays to buy high quality, handmade chocolates from a local producer. There are no excess prices or ‘shrinkflation’ at Maldon Chocolates!
Why not pay us a visit and see our work for yourself? You’ll find us at Poppyfields Retail Park in Snettisham, Norfolk. If you’re unable to travel to us, feel free to view all our products and order online for delivery by UK post. And if you’re on social media, keep an eye on our Facebook and Instagram pages for updates about our work and other things we have been involved with to help promote fantastic Norfolk food and confectionery.
Have a question? Feel free to email us via info@maldonchocolates.co.uk