class = “sc-cffd1e67-0 iQNQmc”>
Brand manufacturers are putting a big egg in consumers’ Easter basket. Chocolate suppliers such as Ferrero and Toblerone have raised prices in recent weeks. As a result, major distributors and discounters were forced to raise, in their words, store prices. “It is true that prices have increased,” a Coop spokesman confirmed. As a survey by Blick at Migros, Coop, Denner, Lidl and Aldi shows: Prices for pubs, bars and even spreads containing cocoa ingredients and nuts will soon rise again.
Coop is currently reporting price increases of up to 12 percent for Kinder brand Ferrero chocolate. For example, children’s bars (10x21g): new price 3.30 francs. Recently it was still 2.95 francs. Migros still charges 3.20 francs. “Unfortunately, further price increases cannot be ruled out,” a spokesman said. And not just with children’s chocolates. Migros says on behalf of other participants, “All products in the chocolate category are affected.”
When we look at the statistics, we see this: Food became more expensive by only 2.3 percent between January 2023 and January 2024. The above-average increase in chocolate prices is due to rising raw material prices. Cocoa prices, which started to rise in 2023, increased again by around 50 percent this year. “The supply crisis in West Africa continues to cause chaos in the chocolate industry,” raw materials experts at Saxo Bank say soberly.
Own brands and Easter products are more expensive
The industries are also facing higher price demands for cocoa powder, cocoa butter and sugar, according to retailers. This also applies to premium manufacturer Lindt & Sprüngli, which says it has also increased its chocolate prices but can still count on loyal customers.
Consumers can’t escape much. As Migros and Coop confirm, retailers’ own brands are also becoming more expensive. However, companies have more leeway when it comes to their own products. “In the short term, we can bear the additional raw material costs ourselves or optimize them in other ways,” says Denner. But when it comes to brand suppliers, retailers’ buyers often have to say: eat or die.
There are also price increases for the Easter window. In Migros, the average is 4 percent. Other companies do not want to give exact information. After all, you don’t want to be stuck with products or deal with steep discounts after the holidays. This will cause double losses to retailers due to rising raw material costs.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
