Viennese pastries, affected by soaring prices, are one of the most widely consumed products in France every year. The FEB (Fédération des Entreprises de Boulangerie) announced in 2019 that it represents 80% of the sector, with sales of 8.5 billion euros. As with butter in 2017, which had an impact on croissant prices, it's cocoa's turn to go through a complicated period, directly impacting production of the most famous chocolate viennoiserie.
From consumer product to luxury?
As you've probably gathered by now, this crisis is really all about pain au chocolat. For the many fans of this pastry of Austrian origin, it may soon be time to go without. But why?
According to a chart by Boursorama.com, cocoa prices soared in the first half of 2024. The commodity saw its price rise from $4,000 a tonne on January 8, 2024, to a high of $12,000 a tonne on April 19, 2024. Currently, the price is hovering around $9,000 a tonne, increasing raw material costs and multiplying the bill by 2 or 3. Speaking to TF1, a distraught bakery manager spoke of a forced change of direction: "We can't sell at a loss; if the price continues to rise, it will become a luxury product." There may even be talk of switching to frozen pain au chocolat production for some artisans, a heartbreaker for most.
Cocoa prices are on a slight downward trend, so let's hope this continues, so we can continue to enjoy this comforting chocolate puff pastry.
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