As Easter approaches, Canadians preparing to indulge in chocolate treats are noticing a significant uptick in prices, raising concerns about the affordability of their favorite confections. While inflation plays a role in this surge, experts point to a more pressing issue: a global shortage of cacao, the essential ingredient in chocolate production.
According to food researcher Nino Bariola from the Culinaria Research Centre at the University of Toronto, the shortage of cacao stems from challenges faced by cacao producers in West African countries like Ivory Coast and Ghana, which collectively account for a substantial portion of the world’s cacao supply. Monoculture practices and climate change have rendered cacao plantations vulnerable to disease outbreaks, exacerbating the shortage.
Recent data from barchart.com reveals a significant decline in cacao shipments from Ivory Coast farmers, further exacerbating the supply crunch. This shortage not only impacts chocolate prices but also poses a threat to tropical forests, including the Amazon, as pressure mounts to expand cacao cultivation.
While some consumers may have already noticed the rising cost of chocolate, Bariola warns that prices are likely to continue climbing in the future. Retail chocolate prices have surged by approximately 17 percent over the past two years, with further increases anticipated, according to a report by food and beverage economist Billy Roberts at CoBank.
Despite the price hikes, demand for chocolate remains robust, as evidenced by the Denman Island Chocolate Company’s strong sales performance leading up to Valentine’s Day. However, consumers are feeling the pinch, with many expressing dismay over the escalating prices of chocolate treats traditionally enjoyed during Easter celebrations.
On online forums like Reddit, users are sharing their frustrations over the soaring cost of chocolate bunnies, once considered affordable Easter staples. With prices reaching new heights, some Canadians are finding it increasingly difficult to justify splurging on their favorite indulgences, signaling a challenging season for chocolate lovers nationwide.