Bad news for chocoholics in Denmark

Price of cocoa pushing up prices

The rising prices of cocoa and almonds is forcing Denmark's biggest producer of candy and chocolate, Toms Chokolade, to increase the price of some of its most popular products.

The price of favoured products such as 'guldbarrer', 'guldkarameller', 'chokoladeskildpadder' (their chocolate turtles with filling) and marzipan bread are among the items set to go up.

”We've seen the price of cocoa rise over a long period of time, and a natural consequence of that has been to increase the price of our products,” Lars Christensen, the marketing head at Toms Chokolade, told Metroxpress newspaper.

”The price hikes will primarily occur with our chocolate and marzipan products, as it is cocoa and almonds that have risen in price.”

READ MORE: Chocolate giant questioning future in Denmark

Up 21 percent 
Christensen went on to reveal that the prices will go up sometime this spring. Earlier last year, Toms revealed it was considering pulling out of Denmark because of the high duties and taxes imposed on the industry here.

According to figures from national stats keeper Danmarks Statistik, the price of cocoa in Denmark has shot up by 21 percent since 2010 and the rising prices are having consequences throughout the industry.

The US and British confectionery giants Mars and Cadbury reacted to cocoa prices reaching their highest levels in three years last autumn. Mars increased the price of its products, while Cadbury reduced the weight of its products by 10 percent without adjusting its prices.

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