Bitter news for chocolate lovers in South Africa

This was highlighted by research firm Eighty20, which noted that chocolate has become significantly more expensive in recent years.

The firm added that the increases are part of a global trend fuelled by climate change, economic pressure, and supply chain disruptions.

According to Eighty20, Chocolate has experienced double-digit inflation in most years since 2020, significantly outpacing CPI.

“As of 2024, chocolate bars are now 40% more expensive than they were in December 2021,” it said.

The firm added that chocolate inflation was 11.6% in 2024 alone, describing the product as “a notable casualty of global economic pressures, climate change, and supply chain pressures.”

Reuters noted that one of the main contributors to the surge in prices is the skyrocketing cost of cocoa. 

Global cocoa prices have soared almost 300% over the past year, peaking at $12,565 per metric tonne in December 2024. 

The situation is being driven by poor weather and disease outbreaks in major cocoa-producing regions, particularly Ghana and the Ivory Coast, which together account for two-thirds of the world’s cocoa supply.

While cocoa exports from the Ivory Coast briefly increased in early 2025, temporarily easing prices, that relief has proven short-lived. 

The country has since flagged tighter supply expectations, which has pushed futures in the opposite direction. 

Concerns about the quality of the current mid-crop harvest, running through September, have only added to market anxiety.

“Cocoa processors are complaining about the crop’s quality and have rejected truckloads of Ivory Coast cocoa beans,” Reuters reported. 

“Processors said about 5% to 6% of the mid-crop cocoa in each truckload is poor quality, compared with 1% during the main crop.” 

This quality drop is blamed on late-arriving rains, which hurt crop development and could lead to a 9% decline in yield from the previous season. South African chocolate producers and retailers are already feeling the pinch. 

Africa is ground zero

Anthony Gird, co-founder of Honest Chocolate, a Cape Town-based artisanal chocolate company, said that cocoa prices are rising due to climate change. 

“This is affecting production in West Africa, and quality dark chocolate is getting more expensive, and that’s likely to continue for the next couple of years,” he said. 

Consumers are also feeling the pain. Data from Eighty20 showed that more than half of adult South Africans (52%) have eaten some form of chocolate in the past month, and a third of the population enjoy a chocolate bar every week. 

However, Eighty20 pointed out the strong consumer loyalty behind chocolate bars despite price hikes.

“Chocolate continues to be one of our most beloved guilty pleasures, a small indulgence that delivers big on satisfaction.” 

Data from the Marketing Research Foundation’s quarterly MAPS survey (based on a 20,000-person sample) listed the top five chocolate bars in South Africa.

These are Bar-One, Lunch Bar, Aero, Black Cat, and Kit Kat, each consumed by over a million people per week. 

The survey noted that Aero and Black Cat tend to appeal to higher-income consumers, while Lunch Bar and Kit Kat have broader appeal across income levels.

Despite its global identity as a sweet treat often associated with Switzerland, most chocolate comes from different origins. 

Africa is a cocoa hotspot, with four of the top five exporters. Côte d’Ivoire, Nigeria, Ghana, and Cameroon account for nearly half (46%) of all cocoa bean exports. 

Germany leads in chocolate exports, contributing 16.3% of the global market, followed by Belgium, Poland, Italy, and the Netherlands. 

In 2024, the global chocolate export market was worth $43.8 billion, with the US and UK collectively importing nearly 20% of that total.

Issued on BusinessTech by Malcolm Libera | https://businesstech.co.za/news/lifestyle/831793/bitter-news-for-chocolate-lovers-in-south-africa/