UK: Luxury Easter egg chocolatiers face squeeze from soaring cocoa prices
As Easter draws near, a UK chocolatier is meticulously crafting luxury Easter Eggs by hand. However, soaring cocoa prices are turning this delightful treat into a more costly indulgence.
Handcrafted dark chocolate praline Easter eggs are adorned with shimmering gold leaf, a seasonal delight from XO Chocolate London.
Chocolatier Robert Kingdon believes this addition enhances the quality and texture of the treat.
This year, they are unveiling a collection of luxurious Easter eggs, inspired by a viral trend from Dubai. Unlike previous years where mini eggs were used, they are now filling their eggs with a pistachio knafeh filling, which has proven to be a hit.
Each egg, lined with pistachio praline and knafeh, is priced at £60.
The ‘Dubai chocolate’ features a delightful crunch of chocolate, pistachio cream, and crispy filo dough, gaining popularity since its introduction by FIX Dessert Chocolatier in the UAE in 2021, thanks to social media influencers.
XO Chocolate London also offers a ganache-filled egg and a traditional praline dark chocolate egg, which is rich in nuts and dark chocolate, accented with gold for an elegant touch.
However, the rising cost of cocoa beans has posed challenges for smaller chocolate businesses, with many struggling to survive.
Kingdon notes that the price of some chocolates has nearly doubled in just over four years, making it increasingly difficult for artisans to stay afloat.
Over the past year, the majority of the price increase has occurred.
Research from Which?, a UK consumer advocacy group, reveals that the cost of popular Easter eggs has surged by as much as 50%, with some even decreasing in size.
However, Asmita Lungeli, a retail manager at XO Chocolate London, remains hopeful for the Easter season. “We still have some time before Easter, but our customers have already begun purchasing Easter eggs and are eager to customize them,” she notes.
One notable product is the Bettys handmade Milk Chocolate Grande Easter Egg, featuring a hand-piped icing design, priced at £395.
The cocoa supply, which is primarily sourced from West Africa, has been adversely affected by rising temperatures and weather conditions, impacting over 70% of the global cocoa market.
The surge in cocoa prices can be attributed to a combination of climate issues, disease, market speculation, and the struggles faced by farmers worldwide.
Philippe de Sellier, head of Leonidas and the Belgian chocolate federation Choprabisco, outlines three key factors contributing to the dramatic rise in cacao prices over the past two years: poor harvests due to unfavorable weather, insufficient compensation for cocoa farmers over the decades leading to underinvestment in their farms, and rampant speculation.
As a result, this Easter, consumers may find that their favorite treats come with a higher price tag.
By Dominic Wabwireh
