Belgium’s chocolate industry is facing mounting pressure as global cocoa prices soar, yet leading chocolatiers insist that the beloved confectionery remains an affordable luxury.
Philippe de Selliers, CEO of Leonidas and president of the Belgian Chocolate Association (Choprabisco), asserts that despite the market turbulence, Belgian chocolate remains accessible and committed to quality.
Cocoa Prices Skyrocket
The cost of cocoa has more than doubled in the past year, surpassing €10,000 per tonne in January 2024. Factors such as inflation, high energy costs, and climate change-induced poor harvests have driven prices up.
However, de Selliers points to deeper structural issues, including unsustainable farming practices that leave cocoa farmers unable to reinvest in their plantations.
“The cocoa farmers are not earning enough, they don’t have enough money to reinvest in their farm… They are harvesting less cocoa – so there is less on the market,” he told The Brussels Times.
Sustainability and Market Speculation
Industry leaders are calling for a global shift toward sustainable cocoa farming to ensure long-term stability. Many Belgian chocolatiers are already prioritizing sustainability efforts to inspire the global market and support struggling cocoa farmers.
Beyond supply issues, market speculation has also contributed to price volatility. “The market price is simply a momentary prediction,” de Selliers explained, noting that historical fluctuations suggest prices could normalize in the coming months.
“The price was around £2,500 to £3,000 per tonne two or three years ago… it went up above £10,000… that is not a normal price,” he added.
Maintaining Affordability
Despite the rising costs, de Selliers argues that Belgian chocolate remains a reasonably priced indulgence. He warns against the exaggerated perception that chocolate is becoming a luxury item akin to caviar.
“It becomes a psychological disaster… consumers will think chocolate is like caviar, and that’s really not the case,” he stated. “Chocolate remains a real pleasure for a truly affordable price.”
Neuhaus, the inventor of Belgian pralines, echoes this sentiment, acknowledging necessary price adjustments while striving to balance operational costs and consumer satisfaction.
A Neuhaus representative affirmed that despite increased prices, demand remains stable as consumers recognize the brand’s dedication to sustainability and high-quality ingredients.
Industry Adaptation and Innovation
To navigate rising costs, Belgian chocolatiers are implementing various strategies, from efficiency improvements to product innovation.
Some companies are exploring alternative uses of the cocoa fruit, utilizing cocoa pulp for praline fillings, reducing waste, and maximizing resources.
“In this way, up to 70% of the whole cocoa fruit is used, whereas normally cocoa pulp is thrown away,” explained Choprabisco’s external advisor, Meike Callebaut.
At Leonidas, de Selliers revealed that the company has absorbed part of the cost increases instead of fully passing them on to consumers.
“We have lost margin per kilo sold, but we have sold more kilos,” he said, emphasizing that Belgian chocolate’s global reputation continues to drive sales.
Commitment to Quality
Looking ahead, industry leaders remain confident in the resilience of Belgian chocolate. “Each company must find the best suitable strategy to cope with price increases,” Callebaut noted, citing product innovation, format changes, and efficiency improvements as potential solutions.
De Selliers reassures consumers that Belgian chocolatiers will uphold their high standards. “I haven’t heard anyone in Belgium saying we are playing with quality,” he stated.
With a strong commitment to excellence and adaptability, the Belgian chocolate industry appears well-prepared to weather current challenges and maintain its prestigious global standing.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
