Andreas Jacobs, the chairman of Swiss chocolate group Barry Callebaut, has forecast a significant increase in chocolate prices as the cost of ingredients rises.
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Speaking in an interview with the German magazine Der Spiegel, Jacobs said double-digit rises in prices of ingredients such as cocoa, glucose and wheat since the beginning of the year represented “a real challenge”.
Price inflation in other food categories has also been rising in Germany. Earlier this month, the Government sought an explanation from food companies for the recent dramatic rise in the price of butter, which has risen by more than 50% since May.
Germany’s Central Marketing and Pricing Board (ZMP) also shows milk prices up by 14% since May due to rising global demand. Further inflation is likely, the ZMP said.
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