Belgospishcheprom seeking for new suppliers of raw materials against growing prices for cocoa beans

The cost of cocoa beans has reached its historic high, and Aleksandr Yakovchits, the Deputy Chairman of the Belgospishcheprom Concern, has commented on how Belarusian confectioners are dealing with this problem

“Of course, this will affect the confectionery industry in Belarus. There has not been such a situation since 1977. Last year, the growth of prices for cocoa beans reached 60 percent against the 2022 level, and there has been already an almost twofold increase in prices in 2024. The latest quotes exceeded 10,000 Pounds per tonne due to the weather conditions in African countries (where cocoa beans traditionally grow), which have resulted in poorer harvests,” Mr. Yakovchits explained.

Belarus’ main enterprises specialising in chocolate production, including sweets, are Kommunarka and Spartak. The cost of cocoa beans makes about 40-43 percent in their products.

“We are now even more engaged into the issue of cost optimisation, taking a very careful approach to the conclusion and maintenance of contracts, and focusing on the timing of their execution. The diversification of import countries is also among our priorities. Ghana and Ivory Coast have been our traditional suppliers, but we are now considering Liberia, Cameroon, Venezuela and the Dominican Republic as well – trying to eliminate the negative processes that inevitably affect our confectioners,” the Belgospishcheprom official added.