30 days/23: World Chocolate Day: The EU is celebrating with sky-high prices
Prices in the cocoa market have lowered recently from record highs, but coupled with high energy costs, they have fuelled a double-digit increase in European retail prices compared to last year.
Cocoa and powdered chocolate prices jumped by more than 16% in the EU in May 2025 compared to the previous year. Prices in the bloc of 27 countries have been gradually increasing for the last 12 months, with annual ‘cocoa inflation’ going from 6.3% to 16.2%, according to Eurostat.
One of the major reasons behind this is that there has been a surge in the prices of cocoa beans, the main ingredient in chocolate, over the past two years. This was coupled with increases in the cost of sugar and energy.
The EU is entirely reliant on cocoa imports and accounts for more than half of the imports worldwide. The majority of the crop that is exported to the EU is grown in West Africa, where the harvest was hit by bad weather in the most important cocoa-producing regions, such as Ghana and Ivory Coast.
“Cocoa prices have almost tripled compared to the level two years ago,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, told Euronews Business, adding that “prices raced to record levels last year and have seen volatile patterns of trading over the past few months”.
While prices have eased from peaks above $12,000 per tonne, they remain elevated in both the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE) in London.
Concerns over the cocoa supply have eased a little from their peak in May 2025, to the beginning of July.
“Chocolate lovers will be relieved to hear that cocoa prices have fallen to an eight-month low in recent days and London futures today are a whopping 42% below where they were at the start of the year,” said Danni Hewson, head of financial analysis at AJ Bell.
London Cocoa Futures were around £5,310 ($7,236) per metric tonne on Monday, more than twice the price it was exactly two years ago.
She said that, “the fact that consumers have been willing to keep stumping up for chocolate even as prices surged has tempted growers to invest in the crop, and the supply outlook has been improving,” which explained the declining prices.
However, due to climate change-related risks, including diseases like black pod, which have been exacerbated, “some plantations have ageing treeor mays, and the trade uncertainty created by Donald Trump’s tariffs have only deepened that uncertainty which is expected to limit any downside when it comes to cocoa prices,” Danni added.
No easing of chocolate prices in Europe any time soon
As bakeries across the continent struggle to grapple with the price increase of this essential ingredient, cocoa prices in the EU and the UK are not expected to fall substantially any time soon, according to a recent report by UK-based strategic consultancy Foresight Transitions.
Global prices of cocoa beans are having a major impact on the continent’s cost of chocolate. The EU's chocolate consumption is the highest in the world and the bloc is entirely reliant on cocoa imports, mainly from countries in West Africa, where the cocoa harvest is highly exposed to climate or biodiversity-related risks.
According to the report, escalating cocoa prices cost European jobs too, citing the world's largest chocolate producer, Barry Callebaut, having laid off almost 20% of workers, a third of which are based in the EU, due to the rising cost of cocoa.
“The rise in the cost of cocoa, which is such a crucial ingredient, is causing a big headache for chocolate manufacturers, given that they are also having to cope with absorbing higher energy costs and wage growth,” said Streeter about the UK market. In May 2025, inflation was accompanied by a record jump in chocolate prices and the cost of chocolate was 17.7% higher than a year previously, according to ONS.
“The outlook for prices ahead remains volatile, given that unpredictable weather patterns affecting cocoa farmers, including droughts and extreme rainfall, is likely to continue longer-term,” Streeter said.
Vacabulary:
double-digit /ˌdʌbl ˈdɪdʒɪt/ (of a number) not less than 10 and not more than 99.
inflation /ɪnˈfleɪʃn/ a fall in the value of money and a general increase in prices; the rate at which this happens.
reliant/rɪˈlaɪənt/ reliant on/upon somebody/something needing somebody/something in order to survive, be successful, etc.
peak /piːk/ the point when somebody/something is best, most successful, strongest, etc.
volatile /ˈvɒlətaɪl/ (of a person or their moods) changing easily from one mood to another
peak /piːk/ the point when somebody/something is best, most successful, strongest, etc.
stumping /stʌmp/ stump somebody (informal) to ask somebody a question that is too difficult for them to answer or give them a problem that they cannot solve.
tempted /tempt/ to attract somebody or make somebody want to do or have something, even if they know it is wrong
exacerbate /ɪɡˈzæsəbeɪt/ exacerbate something to make something worse, especially a disease or problem.
treeor
struggle /ˈstrʌɡl/ to try very hard to do something when it is difficult or when there are a lot of problems
grapple /ˈɡræpl/ to take a strong hold of somebody/something and struggle with them
laid /leɪd/, lay
import /ˈɪmpɔːt/ a product or service that is brought into one country from another
escalating /ˈeskəleɪt/ to become greater, worse, more serious, etc.; to make something greater, worse, more serious, etc.
crucial /ˈkruːʃl/ extremely important, because it will affect other things
wage /weɪdʒ/ a regular amount of money that you earn, usually every week or every month, for work or services.
absorbing /əbˈzɔːbɪŋ/ interesting and fun and holding your attention completely.
surge /sɜːdʒ/ surge (of something) a sudden increase of a strong feeling
Translate:
Prices in the cocoa market have lowered recently from record highs, but coupled with high energy costs, they have fuelled a double-digit increase in European retail prices compared to last year.
One of the major reasons behind this is that there has been a surge in the prices of cocoa beans, the main ingredient in chocolate, over the past two years. This was coupled with increases in the cost of sugar and energy.
Một trong những lý do chính đằng sau điều này là giá hạt ca cao, thành phần chính trong sô cô la, đã tăng đột biến trong hai năm qua. Điều này kết hợp với việc tăng giá đường và năng lượng.
The EU is entirely reliant on cocoa imports and accounts for more than half of the imports worldwide. The majority of the crop that is exported to the EU is grown in West Africa, where the harvest was hit by bad weather in the most important cocoa-producing regions, such as Ghana and Ivory Coast.
EU hoàn toàn phụ thuộc vào việc nhập khẩu ca cao và chiếm hơn một nửa lượng nhập khẩu trên toàn thế giới. Phần lớn vụ mùa được xuất khẩu sang EU được trồng ở Tây Phi, nơi vụ thu hoạch bị ảnh hưởng bởi thời tiết xấu ở các vùng sản xuất ca cao quan trọng nhất, chẳng hạn như Ghana và Bờ Biển Ngà.
“Cocoa prices have almost tripled compared to the level two years ago,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, told Euronews Business, adding that “prices raced to record levels last year and have seen volatile patterns of trading over the past few months”.
Susannah Streeter, giám đốc tiền tệ và thị trường tại Hargreaves Lansdown, chia sẻ với Euronews Business rằng: "Giá ca cao đã tăng gần gấp ba lần so với mức hai năm trước", đồng thời nói thêm rằng "giá đã tăng vọt lên mức kỷ lục vào năm ngoái và có xu hướng giao dịch biến động trong vài tháng qua".
While prices have eased from peaks above $12,000 per tonne, they remain elevated in both the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE) in London.
Mặc dù giá đã giảm từ mức đỉnh điểm trên 12.000 đô la một tấn, nhưng vẫn ở mức cao tại cả Sàn giao dịch hàng hóa New York (NYMEX) và Sàn giao dịch liên lục địa (ICE) ở London.
Concerns over the cocoa supply have eased a little from their peak in May 2025, to the beginning of July.
“Chocolate lovers will be relieved to hear that cocoa prices have fallen to an eight-month low in recent days and London futures today are a whopping 42% below where they were at the start of the year,” said Danni Hewson, head of financial analysis at AJ Bell.
Concerns over the cocoa supply have eased a little from their peak in May 2025, to the beginning of July.
“Chocolate lovers will be relieved to hear that cocoa prices have fallen to an eight-month low in recent days and London futures today are a whopping 42% below where they were at the start of the year,” said Danni Hewson, head of financial analysis at AJ Bell.
Mối lo ngại về nguồn cung ca cao đã giảm bớt một chút từ mức đỉnh điểm vào tháng 5 năm 2025 đến đầu tháng 7.
Danni Hewson, giám đốc phân tích tài chính tại AJ Bell, cho biết: "Những người yêu thích sô cô la sẽ nhẹ nhõm khi biết rằng giá ca cao đã giảm xuống mức thấp nhất trong tám tháng trong những ngày gần đây và giá tương lai tại London hiện giảm tới 42% so với mức đầu năm".
London Cocoa Futures were around £5,310 ($7,236) per metric tonne on Monday, more than twice the price it was exactly two years ago.
She said that, “the fact that consumers have been willing to keep stumping up for chocolate even as prices surged has tempted growers to invest in the crop, and the supply outlook has been improving,” which explained the declining prices.
Giá cacao tương lai London vào khoảng 5.310 bảng Anh (7.236 đô la) cho một tấn vào thứ Hai, cao gấp đôi so với giá cách đây đúng hai năm.
Bà cho biết, "thực tế là người tiêu dùng vẫn sẵn sàng chi tiền mua sô cô la ngay cả khi giá tăng cao đã khuyến khích người trồng trọt đầu tư vào vụ mùa, và triển vọng nguồn cung đã được cải thiện", điều này giải thích cho giá giảm.
However, due to climate change-related risks, including diseases like black pod, which have been exacerbated, “some plantations have ageing treeor mays, and the trade uncertainty created by Donald Trump’s tariffs have only deepened that uncertainty which is expected to limit any downside when it comes to cocoa prices,” Danni added.
Tuy nhiên, do những rủi ro liên quan đến biến đổi khí hậu, bao gồm các bệnh như bệnh đậu đen, đã trở nên trầm trọng hơn, "một số đồn điền có cây già cỗi và sự bất ổn về thương mại do thuế quan của Donald Trump tạo ra chỉ làm sâu sắc thêm sự bất ổn đó, dự kiến sẽ hạn chế mọi bất lợi liên quan đến giá ca cao", Danni nói thêm.
No easing of chocolate prices in Europe any time soon
As bakeries across the continent struggle to grapple with the price increase of this essential ingredient, cocoa prices in the EU and the UK are not expected to fall substantially any time soon, according to a recent report by UK-based strategic consultancy Foresight Transitions.
Giá sô cô la ở châu Âu sẽ không giảm trong thời gian tới
Trong khi các tiệm bánh trên khắp lục địa đang phải vật lộn với tình trạng giá tăng của nguyên liệu thiết yếu này, giá ca cao ở EU và Vương quốc Anh dự kiến sẽ không giảm đáng kể trong thời gian tới, theo báo cáo gần đây của công ty tư vấn chiến lược Foresight Transitions có trụ sở tại Anh.
Global prices of cocoa beans are having a major impact on the continent’s cost of chocolate. The EU's chocolate consumption is the highest in the world and the bloc is entirely reliant on cocoa imports, mainly from countries in West Africa, where the cocoa harvest is highly exposed to climate or biodiversity-related risks.
Giá hạt ca cao toàn cầu đang có tác động lớn đến giá sô cô la của châu lục này. Mức tiêu thụ sô cô la của EU là cao nhất thế giới và khối này hoàn toàn phụ thuộc vào việc nhập khẩu ca cao, chủ yếu từ các quốc gia ở Tây Phi, nơi vụ thu hoạch ca cao chịu nhiều rủi ro liên quan đến khí hậu hoặc đa dạng sinh học.
According to the report, escalating cocoa prices cost European jobs too, citing the world's largest chocolate producer, Barry Callebaut, having laid off almost 20% of workers, a third of which are based in the EU, due to the rising cost of cocoa.
Theo báo cáo, giá ca cao tăng cao cũng khiến người dân châu Âu mất việc làm, dẫn chứng nhà sản xuất sô cô la lớn nhất thế giới, Barry Callebaut, đã phải sa thải gần 20% công nhân, một phần ba trong số đó làm việc tại EU, do giá ca cao tăng.
“The rise in the cost of cocoa, which is such a crucial ingredient, is causing a big headache for chocolate manufacturers, given that they are also having to cope with absorbing higher energy costs and wage growth,” said Streeter about the UK market. In May 2025, inflation was accompanied by a record jump in chocolate prices and the cost of chocolate was 17.7% higher than a year previously, according to ONS.
Streeter cho biết về thị trường Anh: "Giá ca cao tăng, một thành phần quan trọng, đang gây đau đầu lớn cho các nhà sản xuất sô cô la, vì họ cũng phải đối phó với việc hấp thụ chi phí năng lượng cao hơn và tăng trưởng tiền lương". Vào tháng 5 năm 2025, lạm phát đi kèm với mức tăng kỷ lục về giá sô cô la và giá sô cô la cao hơn 17,7% so với một năm trước đó, theo ONS.
“The outlook for prices ahead remains volatile, given that unpredictable weather patterns affecting cocoa farmers, including droughts and extreme rainfall, is likely to continue longer-term,” Streeter said.
Streeter cho biết: “Triển vọng giá cả trong tương lai vẫn không ổn định vì các kiểu thời tiết khó lường ảnh hưởng đến người nông dân trồng ca cao, bao gồm hạn hán và lượng mưa cực lớn, có khả năng sẽ tiếp tục kéo dài”.
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