Easter is just around the corner, and Australians are preparing to buy chocolate Easter eggs and bunnies. However, the cost of cocoa has skyrocketed globally, putting pressure on chocolate makers and consumers alike.
Tina Angelidis, co-founder of Sydney's Adora Chocolates, says the four days leading up to Easter are her busiest period of the year. But her business has seen a 10% drop in sales since last October due to rising import costs and inflation. She plans a major price increase after Easter, noting it's the largest rise she's seen in 30 years.
Peter Millard, chief operating officer of Haigh's Chocolates, which has been making chocolate in Australia for over a century, expects costs to rise further. Haigh's sources cocoa from Papua New Guinea, Africa, and South America. Millard says that while the impact will be felt, the brand's premium positioning may help absorb some of the shock.
The global cocoa supply is under severe strain from climate change, plant diseases, and unsustainable farming practices. David Guest, professor of plant pathology at the University of Sydney, explains that 70% of the world's cocoa comes from West Africa, where farmers live on less than $2 a day. They lack resources to implement effective management, and volatile prices—from $2,500 to nearly $9,000 per tonne in months—offer little incentive for sustainability.
Chris Jahnke, CEO of Charley's Chocolate, grows cocoa in far north Queensland, which provides a buffer against price spikes. However, he still supplements with imported beans from Papua New Guinea. He hopes the supply chain stabilises and that overseas farmers benefit from higher prices, making the industry more sustainable.
