Not even the humble Freddo Frog or the Caramello Koala are immune to the rising cost of living. Cadbury has announced that it will double the price of its iconic chocolate.
For over a decade, the sweet treats cost $1. But now chocolate lovers have to shell out $2.
“Due to the record global price of cocoa and increased input costs, we have adjusted the recommended retail price from $1 to $2. This is the first price change in over a decade,” Cadbury said.
The chocolate brand made the announcement on social media but did not allow comments on the post.
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Nevertheless, Australians continued to react strongly, with some describing the move as “outrageous”.
“You know the world has gone mad when a good old Freddo Frog now costs $2,” said one.
“Another reason for me to keep it on the shelf! Half the size, three times the price,” added another.
Cadbury is not wrong in saying that the price of cocoa has increased.
At the beginning of the year, the price of cocoa was around 4,238 US dollars per tonne.
According to Intercontinental Exchange, this value has risen to $8,472.
The seeds can only be grown in certain climates and Ivory Coast, Nigeria, Cameroon and Ghana produce 70 percent of the world’s production.
In October last year, alarm was raised that exports would fall dramatically in the first quarter of 2024 due to “unpredictable weather conditions” and a “fungal disease” affecting cocoa trees. Shipments were expected to fall by 28.5 percent year-on-year.
The price of the share bags will not be affected. Cadbury has not announced any price increases for other products.
“We thank you for your understanding and continued support in our efforts to provide you with the high quality chocolate you love, made with the finest local ingredients,” Cadbury said.
