“UNPRECEDENTED” INCREASE IN COCOA Charges
Anjalichocolat, a confectioner with roots in Singapore, is one store that has changed its business model in response to these market difficulties. It has an online business in Tanglin Mall and also sells its special treats in person.
Anjali Gupta, the founder of her business, explained to CNA that her company does not purchase sufficiently lasting dessert, which is already priced higher than regular chocolates, to receive a bulk discount because of its small size.
The current increase in coconut costs has been unheard of, and it has undoubtedly caused a curveball,” she said.
” We would have to raise our prices by about 30 % if we were to break even, and we do n’t think our customers would agree to that kind of price increase.” We may lower our costs, but we will have to handle the rest of our business as well.
Since 2015, the company has held chocolate-making workshops, which Ms. Anjali said have been “very famous” as business team-building events. In Dempsey, it just invested in a new factory workshop in January 2023.
Another store confectioner, Embrace Chocolate, is paying double the price for organic cocoa beans then compared with the start of the time.
Due to the rising cost of cocoa, the vegan bean-to-bar factory in Joo Chiat, which only produces about 600 chocolate bars per month, will have to spend even more. Namita Gupta, the founder of her store, claimed that her store may have to pass the charge to customers by S$ 0.50 to S$ 1.