As the Easter season hops into view, Australians are accustomed to the sight of chocolate eggs and bunnies lining the shelves of their local supermarkets. However, this year, the sweet anticipation has turned sour for many as they encounter the eye-watering prices of these festive treats at Coles and Woolworths. The cost of indulging in the annual chocolate tradition has become no laughing matter, with some shoppers labelling the price tags as ‘a joke’.
The culprit behind this confectionery cost surge? Soaring cocoa prices, which have seen an unprecedented increase of up to 20 per cent. This hike has inevitably been passed down to consumers, who are now facing the dilemma of whether to shell out more cash or forgo their chocolate cravings altogether.
On social media, the sticker shock has been palpable. Social media user @carinanatalie0 expressed disbelief at finding a single Lindt Gold Bunny priced at a whopping $18 at her local Coles. Meanwhile, another user lamented the ‘discounted’ price of Cadbury Caramilk mini eggs, which were going for $10 for two packets containing roughly 10 eggs each. The sentiment was echoed across the platform, with comments ranging from plans for a healthier Easter to outright avoidance of the overpriced treats.
Cadbury, a beloved brand among Easter chocolate aficionados, has pointed to ‘record cocoa pricing’ and other rising production costs as the reasons behind their challenging situation. In a statement to news.com.au, Cadbury assured customers that they were doing their best to absorb costs and still provide joy during the Easter season. They’ve even reviewed their portfolio to offer a range of sizes and recommended retail prices to cater to different budgets.
But what’s driving these cocoa price hikes? The answer lies in West Africa, the heartland of cocoa production, which has been plagued by adverse weather and crop diseases. The global cocoa market has been rocked by one of its most significant shake-ups in recent memory, with prices per ton soaring past $US12,000 ($19,000 AUD) before settling at around $US10,000 per ton. The repercussions of this volatility are now being felt on supermarket shelves across Australia.
Lindt & Sprungli, another major chocolate producer, has also cited the quadrupling cocoa prices over the last two years as the reason for unavoidable price increases, despite their efforts to mitigate costs through efficiency and cost-cutting measures.
The impact is clear when browsing the Easter aisles. Coles is selling Cadbury Dairy Milk Eggs for $7 or two for $10, while a 160g Kinder Surprise Bunny costs $12.80, and a 200g Lindt Gold Bunny is $18. Woolworths, on the other hand, has temporarily slashed the price of a 300g bag of Lindt Lindor Assorted Mini Eggs from $30 to $15, but shoppers shouldn’t expect these discounts to last.
Both Coles and Woolworths have expressed their commitment to working with suppliers to offer competitive prices and keep Easter chocolate affordable, despite the global cocoa supply challenges.
As the cost of living continues to squeeze Australian budgets, Queensland University of Technology professor Garry Mortimer predicts that these price hikes will alter shopping habits. Consumers may start to shy away from premium brands like Lindt and Kinder, turning instead to supermarket private-label chocolates or more affordable alternatives.
Have you noticed the price increases? Will you be splurging on your favourite chocolate brands or seeking more affordable options? Or perhaps you’ve found a new tradition to celebrate the season without breaking the bank? Share your thoughts and strategies with us in the comments below! Let’s discuss how we can keep the Easter spirit alive without emptying our wallets.
Also read: Chocolate Easter treats to get costlier: What’s behind the price hike?
It does not surprise me, Cadbury,s(UK) apparently was taken over by Mondelez, a US based manufacturer who own Toblerone, Oreo and Ritz among others.