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Tony's Chocolonely Prices are Going Up - Here's Why - Cook & Nelson

Tony's Chocolonely Prices are Going Up - Here's Why

We’re not sugarcoating it. We need to introduce new prices for our Tony's Chocolonely chocolate range due to globally sky-high cocoa prices.

It’s not an easy message to share, but we want to be as transparent as possible because honesty is the best policy - just like paying farmers a living income price for cocoa long-term and investing in the productivity of their farms. 

Our friends at Tony's Chocolonely remain steadfast in their goal of ending exploitation in cocoa so we asked them to share some of the reasons behind the price increase. Let’s get into it..

Our commitment in cocoa is our #1 focus
We exist to end exploitation in cocoa – that’s why we launched our first red bar. It’s our pamphlet of protest, to show the world that delicious choc can be made differently: in taste and the way we do business with cocoa farmers. We set the standard with our 5 Sourcing Principles, aka our tried-and-true rules for change. They include paying a higher price long-term to enable farmers to earn a living income, investing in productivity and tracing every cocoa bean to drive down child labor + deforestation.

And we’ll keep doing just that, ’cause our way of working works. But to keep growing our impact company – and convince other chocolate brands to source cocoa like we do – we need to keep a balance between costs and gains.

Low supply of cocoa = (very) high cocoa prices
If you follow us on social, you’ll have heard us talk about this before: the market price for cocoa is at an all-time high due to massive cocoa shortages. It used to sit around €3000 per metric ton, but now it’s around €10,000 per metric ton – a whoppin’ 233% increase.

While we’d normally celebrate a higher price for cocoa, a higher price on the trading market doesn’t necessarily mean higher prices are being paid to cocoa farmers for the long-term. Though Ghana + Côte d’Ivoire announced that their farmers will benefit from sky-high cocoa prices for the rest of the 2024 cocoa season, the bitter reality is that most farmers are still unable to earn a living income. Why? ’Cause farmers are producing about 30% less cocoa due to severe droughts, aging cocoa trees and, most importantly, climate change. This means that even though cocoa farmers are being paid more, they’re selling way less. Making it impossible for millions of them to escape poverty.

That’s why our 5 Sourcing Principles don’t just revolve around paying farmers a higher price (= the Living Income Reference Price). They also focus on the long-term, committing to working with farmers at least 5 years and investing in their productivity. Because we know the solution lies in combining all 5 of our 5 Sourcing Principles.

Staying on track with our mission
So there you have it, the full story behind our new price. With this new price, we can keep doing what we’ve been doing for years: breaking the norm in cocoa, inspiring industry-wide change through our 5 Sourcing Principles. Until we end poverty, child labour and deforestation in cocoa. ’Cause that’s what it’s all about.

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