Before I became interested in cocoa, I had never thought about where it came from. I don't know why, but I think it's the same for many of us.

A bit like the blue and red pills in The Matrix, taking an interest in it can be a real shock. You discover a lot of things.

The subject has been particularly hot for some time now, as we are currently experiencing a historic period in the chocolate industry. A striking situation is challenging all players: the spectacular increase in the price of cocoa.

As the founder of Bassan Chocolat, I make artisanal chocolate. My company is ethical and organic. I pay close attention to these changes. They not only generate economic fluctuations, but also reveal a profound transformation of the market, highlighting the urgent need to adopt more responsible practices.

The New Economic Landscape of Cocoa

Recently, the price of cocoa on the stock market has more than doubled, reaching US$12 per kg.

This exceeds the records set in the 1970s. This price increase, unprecedented in recent history, highlights the challenges facing the industry. With large investments by hedge funds in the cocoa market, pressure on prices is increasing. This makes the situation more unstable.

It should be noted that after the crisis of the 1970s, the price of cocoa remained stable at around US$3 per kg.

It can therefore be said that the purchase price paid to cocoa producers has remained the same for 50 years. It is easy to see that if the price per kg has not kept pace with inflation, a gap has widened. This gap has become a huge chasm that has weakened cocoa cultivation.

Multiple and Diverse Impacts

On Consumers and Manufacturers

This increase directly affects chocolate manufacturers. They are facing higher costs in a challenging post-COVID environment. One might think that the term “mass-market chocolate” only applies to a few little-known manufacturers. But in reality, almost the entire chocolate industry uses industrial chocolate.

Hershey is often mentioned when thinking about mass-produced chocolate, and it is true that they are directly in this niche. But we forget to mention other, lesser-known companies, such as Cacao Barry, which is part of the Barry Callebaut group. The vast majority of chefs in Quebec and Canada work with Cacao Barry.

And despite their reputation for quality, they remain industrial chocolate manufacturers. Their sales model is business-to-business, which keeps them in the shadows. Their chocolate is sold under the names of the chefs who transform it. Thus, the true origin of the chocolate, as well as the manufacturing steps, remain invisible.

Chefs are therefore caught up in this whirlwind. Many find it difficult to promote anything other than their own expertise as added value to their creations. It is therefore normal that everything related to agriculture, chocolate manufacturing, and sourcing is kept quiet.

This is a great opportunity for chefs to rediscover artisanal chocolate. They can also promote chocolate brands such as Bassan Chocolat. Consumers should expect a sharp rise in chocolate prices. This is due to the increase in the cost of sugar, wages, and inflation.

Chocolate, beyond its transformation, requires a lot of work for chefs. It is an art. If we want them to continue creating, we must preserve the use of cocoa butter. It is important to avoid substitutes such as palm oil.

On cocoa producers

For cocoa producers in Côte d'Ivoire and West Africa, the situation is dire. Unfortunately, they are not really benefiting from this price increase. Even though the price of cocoa has almost tripled, the increases for producers remain very low.

The chocolate industry still relies on exploitative mechanisms. Cocoa-producing countries are beginning to legislate with supply management systems and regulations.

An Opportunity for Bassan Chocolat?

Artisanal chocolate production, as practiced by Bassan Chocolat, uses high-quality beans, which often cost more. Our direct links with producers in the Americas and the Caribbean protect us from certain fluctuations.

Working directly with them allows us to collaborate in order to offer chefs an alternative. Chocolate can be worked with differently. It is important to promote authentic chocolate bars. This avoids the excessive use of cocoa powder and poor-quality cocoa liquor.

Bassan Chocolat: A Stronger Commitment

At Bassan Chocolat, we are more determined than ever to promote a sustainable and fair production model. We work closely with our producer partners to ensure fair remuneration and encourage environmentally friendly agricultural practices.

A Critical Moment for the Industry

The increase in the price of cocoa represents a critical moment for the chocolate industry. It invites us to reflect on our consumption and the choices we make as producers and consumers.

At Bassan Chocolat, we firmly believe that the future of chocolate must be built on the foundations of quality, fairness, and sustainability. Join us in this effort to make a difference and support a more promising future for all stakeholders in the cocoa industry.

Dany Marquis