The rise in cacao bean prices at Wild Child Cacao
Hello dear Wild Childs!
Today, I want to share some important news regarding the recent rise in cacao bean prices you may have heard of in the newspapers, the factors contributing to this change and the effect it has on Wild Child Cacao. Read all about it below!
So, what happened?
As many of you know, Ivory Coast and Ghana are the world’s leading producers of cacao, supplying about two-thirds of the global market. Unfortunately, 2023 has proven to be an extremely challenging year for these essential cacao-growing regions. A combination of low rainfall, plant diseases, and aging trees has resulted in a disappointing harvest. This scarcity has significantly impacted the global supply, leading to an increase in cacao bean prices.
The complexity
While it may seem that nature alone is to blame, the situation is more complex. The continuous low payment of farmers in these countries has severely limited their ability to invest in measures that could mitigate such challenges. Without the necessary resources, farmers struggle to replace old trees, combat plant diseases, and adapt to changing weather patterns.
But you don’t get your beans from these countries, right?
Up until now, our cacao supply remained steady because we have always been committed to paying a much higher and fairer price for our beans. This practice ensures that farmers receive fair compensation for their hard work, allowing them to invest in sustainable farming practices and support their communities. However, the recent shortages have led the big players in the industry to start buying any cacao they can find, at any price, to meet their demands, even on the Dominican Republic where we source from.
Our situation
Malou experienced this firsthand during her recent trip to the Dominican Republic to pick up our cacao by sailing ship. She was faced with the harsh reality of the current market: there was a significant shortage, and prices were four times higher than usual. Despite these challenges, Malou was able to negotiate a good amount of beans to bring back to Amsterdam. Unfortunately, the price was non-negotiable.
The good and the less good, but still pretty good
So the good news is: we were able to buy enough cacao to last us for a while and assure you of your daily cup of Wild Child Cacao! The less good news is: we have tried to absorb the price increase within our company, but this approach has proven to be unsustainable. We are therefore forced to make our bars slightly more expensive. This increase is nowhere near the difference in price we pay for the beans, but every little bit helps and we hope you can manage this difference!
So…
Starting July 1st 2024, our 500g limited edition cacao bars will be priced at €44 instead of €42; the €250g bar will change from €24 to €24.50; the monthly 500g Subscription from €31,50 to €33,50 and the bulk 5kg will be €290 instead of €280.
If you have a subscription already, we will not change the price that you are currently paying of course! The price change will be affected only after you have finished your year 🙂
Sustainability at the core
We hope you can understand and support our decision! If all goes well with the coming years’ cacao crops, we hope to be back to our original prices next year.
In the meantime, let’s work together towards a more sustainable and equitable cacao industry by being sure that what we buy, drink and eat has a fair and happy background. We for sure will keep doing our best!
Got any questions regarding this? Don’t hesitate to ask!!
Thank you for being a part of our lovely cacao community and feel free to stock up on your cacao this month for the current price 😉
With love,
Malou
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