Blog

New Prices WEF 1 August 2024

We are writing to let you know that we will be increasing our prices by 5% with effect from 1st August 2024. Please email Fran@guppyschocolates.com if you would like the new prices document emailing to you.

Why another increase in prices?
In recent months, the global cocoa market has witnessed unprecedented price volatility and it is a huge challenge for the chocolate industry. The price increases have been driven by several different factors:
 

• Declining supply - the El Nino weather pattern has significantly disrupted cocoa production in major producing countries. Adding to the challenges posed by this, crop diseases have devastated large swathes of cocoa plantations. Such significant reductions in output from key producing regions inevitably tightened global supply, pushing up the market price.
• Investor speculation - Hedge funds have spotted an opportunity to profit from all of this volatility. This is causing the price to rise making it very difficult for small companies to plan next contracts with chocolate suppliers. 

The future
These have been exceptionally challenging times for everyone involved in the cocoa/chocolate industry. We are working very closely with our chocolate suppliers, trying to work out the best time to place our next orders. We will do our best to keep our prices competitive by keeping tight control of all our other costs as much as we are able, but given that we are a small business and are now buying chocolate at sometimes more than double historic prices, we cannot absorb all of these cost increases and still be a viable business. 

We are committed to providing quality products to  you and as always, we appreciate your business and continued support.

Kind regards, Fran & Peter Guppy