Surging demand, lower output pushed cost of beans to a 30-month high in March
London
THE world's growing love for chocolate means more expensive treats for the Easter holiday.
Demand is rising at the fastest pace in three years, according to Euromonitor International, and farmers in West Africa aren't growing enough cocoa to keep up. The cost of beans used to make chocolate reached a 30-month high last month, forcing confectioners to charge their customers more.
Lucy Armstrong, who sells sweets online from England, said that the cost of a 10 kilogramme pack of bulk chocolate she uses to make champagne truffles, pralines and salty caramels surged 18 per cent this year to £59 (S$123). She has raised the price of chocolate Easter eggs by 50 per cent from last year, just before demand picks up for the holiday on Sunday, and she plans another increase in the next six months. "It's definitely the first time where the chocolate has gone up quite noticeably," she said.
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