It’s Easter and chocolate is very much on the menu. But it could be meltdown for the industry as the cost of cocoa soared to a historic high of more than $10,000 a tonne last week after two years of poor harvests in the key west African growing region.
Sitting calmly among the relics of Cadbury’s history in the company archive, Louise Stigant, the boss of Mondelēz’s UK arm – which includes the British chocolate brand celebrating its 200th anniversary this year – is charged with making sure it has a future, as key ingredients, including sugar as well as cocoa, have soared in price.
