Price of chocolate to increase

12th August 2007, Comments 0 comments

13 August 2007, HAMBURG – There seems to be no end to the list of everyday products for which price increases have been announced. After reports that bread, dairy and pasta will be more expensive, it emerges now that chocolate too will be commanding higher prices.

13 August 2007

HAMBURG – There seems to be no end to the list of everyday products for which price increases have been announced. After reports that bread, dairy and pasta will be more expensive, it emerges now that chocolate too will be commanding higher prices.

Barry Callebaut, the largest chocolate manufacturer in the world, has announced this. Andreas Jacobs, CEO of Barry Callebaut, told German weekly Der Spiegel that customers will "soon" be noticing a "significant" price increase.

The explanation for the price hike is the rise in the prices of commodities like cocoa, hazelnuts and powdered milk. The price of powdered milk has in fact doubled over the past year. Raw materials like these are now generally more expensive because of a combination of bad weather conditions, the rise of bio-fuels (which uses up grain) and the economic boom in Asia.

[Copyright Expatica News 2007]

Subject: Belgian news

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