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The new Belcolade Origins range
Single Origin, singular taste - explore the flavour complexity of the new Belcolade Origins range! We’re thrilled to announce that our Belcolade Origins family has just got even tastier! With seven new additions joining the line-up, this collection of single origin chocolates is now richer, more diverse, and even more inspirational for chocolatiers, bakers, gelato makers and artisan creators. At the heart of the Origins range is the belief that great chocolate tells a story - of land, climate, tradition and craftsmanship. These chocolates are made using beans from specific regions, where the terroir, farming methods and expert fermentation processes combine to unlock intense, natural flavour profiles. Think of them like fine wines - expressive, complex, and full of personality. The newcomers Philippines 68% A dark chocolate with a bold cacao punch, balanced with floral notes, fruits and spices. Dominant flavours include pineapple, banana and passion fruit, enhanced by pepper and a touch of floral. Papua New Guinea 70% Carefully cultivated along the mountainside of the Sepik river, this chocolate embodies the qualities of the Pacific soil, bringing the unique flavour profile to the fore. Providing a lively ride, this chocolate is dark, with a subtle fruitiness, roasted notes, and a floral whisper. Papua New Guinea 39% Creamy and indulgent with a delightful balance of milk and cacao. The profile of this chocolate touches on sweet caramel notes, cooked milk and roasted hazelnuts. The warm, caramelised flavour brings richness to moulded chocolates and truffles. Papua New Guinea 36% A white chocolate like no other! The flavour offers pronounced dairy notes and a cooked milk character, but with an underlying depth from the terroir. Notes of sweet vanilla, anise and almond come to fore in this chocolate. A dream for gelato and filled creations. Vietnam 73% Crafted from the Trinitario bean in Vietnam's Mekong Delta region, this chocolate is intense and full-bodied with an acidic taste and citrusy finish. This profile touches on woody notes along with citrus and a touch of roasted coffee. A dark chocolate with a punch of personality, ideal for sophisticated flavour pairings. Vietnam 45% Sweet, creamy and every bit as elegant as the 73%. Also made from the Trinitario bean, this chocolate dances with notes of sweet caramel and roasted coffee, making it a fantastic choice for bonbons and pastry layers. Cameroon 45% Sourced from the valleys of the Sanaga river, these red cocoa beans create a smooth and mellow chocolate with light caramel tones. The profile also touches on cooked milk, roasted notes and a touch of citrus. A beautifully balanced milk chocolate. A global family of flavour These new kids on the block join our much-loved Origins favourites: Venezuelan 43.5% - smooth with rich dairy notes and a touch of caramel and hazelnut. Ecuadorian 71% - deep and intensely cacao-driven with floral notes and a touch of coffee. Ugandan 80% - a powerhouse of cacao with roasted and citrus undertones. Peruvian 64.5% - rounded and slightly acidic, with floral notes and dried fruit vibes. Vietnamese 45% - silky and balanced, with natural sweetness and a creamy mouthfeel. Why Origin matters Each Origin chocolate is an invitation to explore a region’s flavour story. They’re crafted under the Cacao-Trace programme, ensuring not only superior taste through expert fermentation and drying, but also fairer incomes for cocoa farmers. It’s better chocolate with a purpose for better. Culinary inspiration These unique profiles add depth and complexity to any creation. Whether you're layering nuanced flavours in a patisserie, crafting standout bonbons, or swirling through gelato, the Origins range offers a palette of taste that elevates recipes from tasty to unforgettable. Let your next creation tell a story with Belcolade Origins, from hot cross chocolates to cold chocolate drinks and mono mandarin chocolates. There's a unique flavour profile for every individual creations.
A visit to the Ivory Coast Cacao-Trace farming communities
A revolutionary programme Puratos, parent of the Belcolade brand, introduced their revolutionary Cacao-Trace programme in 2013, as a way to better control the cocoa chain and support those within it. Key focus areas include farmer poverty, working conditions, deforestation and child labour - areas that have already seen significant improvements. Better production methods produce a higher quality product, providing more value to the customer which is, in turn, distributed among the farmers and communities involved, forming a full circle process. The Cacao-Trace programme is further supported by the inclusion of the Chocolate Bonus project, which actively creates jobs and provides essential buildings, centres and harvesting systems at the source of the cocoa chain. The exceptional work that Puratos do and the programme they have implemented is one that we, at Henley Bridge, are incredibly proud to support. The Ivory Coast To further understand the processes within the cocoa chain, the impact of the Cacao-Trace programme and to experience the efforts involved from both sides, our team at Henley Bridge joined colleagues from Puratos for a visit to the Ivory Coast. In her own words, our Managing Director, Tracey Hughes, shares her experience from the trip. Why Cacao-Trace The Cacao-Trace Programme is very important to Henley Bridge, as a key distributor of chocolate and the Belcolade brand in the UK, it is imperative that we continue to source and supply ethical and sustainable chocolate both now and in the future. The aim of our visit to the Ivory Coast was to fully understand the programme and the positive changes that it is making to the local farmers and communities. We were able to witness how the Cacao-Trace sustainable cocoa sourcing programme is implemented, and to see the journey from bean to bar, experiencing the process alongside the farm workers. The reality of the amount of work and care that it takes to create the chocolate was astounding. Our experience on the farms Care for quality At the start of the trip, we were welcomed into Dotou village on the cocoa farm of Mr Gnahoue Rodrigue and we were lucky enough to experience the day to day of his farm workers. Myself and the team conducted essential tree care, harvested pods, broke them and removed the cocoa beans ready for the next stage of fermentation. It was reassuring to see the consistent quality checks along the journey from bean to bar. Fermentation masters Next we visited the Puratos Post-Harvest Centre in Adjamené to witness the fermentation process. It was amazing to see the wooden box fermenters and how community members, who are trained to become professional Cacao-Trace fermentation masters, process the beans. Every step of the journey allowed us to see how Puratos values the cocoa farming community, providing them with all of the skills required to have a career with financial security and a long-term positive impact. A full circle process One of the most enlightening parts of our trip was meeting the team from Puratos West Africa. Whilst in the Ivory Coast, one of our guides was Jean. Jean’s father was a cocoa farmer, and he grew up on the plantation, which his family still owns and runs today. At the age of six, Jean left his family to live with his uncle and continue his education. Jean now works for Puratos West Africa, specifically with the Cacao-Trace programme, to improve the quality of cacao and the lives of the farmers and villagers. Hearing Jean’s story, understanding the sacrifices he and his family made, and seeing how he is now working to help his people and community was truly touching. Not everyone will have the same opportunity that Jean did, which highlights the importance of the Cacao-Trace programme in building schools and ensuring all children receive a basic education. The Cacao-Trace family For all the guides we met, you could see and feel how proud they were of their roots and the work they were doing with the Cacao-Trace programme to improve the lives of their communities. The highlight of the trip for us was to see first-hand the positive changes that the programme has already delivered and will continue to deliver. The condition of the farms, with the cocoa trees being looked after and cared for correctly with plenty of healthy cocoa pods, visualised the future of chocolate. A prosperous future Throughout the plantations that we visited, the positive changes of the Cacao-Trace programme were evident from the standards of the farming landscape to the education that the programme is providing to the farming community. Thanks to the Cacao-Trace programme more villages have access to schools, nearby water towers and maternity centres. However, there are still villages which do not have access to these things that we consider life essentials. It has proved that we all have much more to do to provide better quality of lives for people, to continually build a better planet, and to create better prosperity in the lives of so many people and families.
Leading the way in ice cream innovation
Cool customers Team Henley Bridge was out in full force this week attending ICA 2026 at the NEC in Birmingham. The two-day event is the UK’s only dedicated trade show for the gelato and ice cream industry and, as a leading supplier for the sector, we were excited to unveil the latest innovations in this fast-growing arena. Spoilt for choice Over 6,500 visitors attended the show and those who made a beeline for our stand had an impressive choice of 24 different flavours from Irca and Rubicone to sample - all lovingly made by our gelato experts Steve Carrigan and Jenny Spain. Also on offer were four flavours of soft serve from Jersey Dairy and Gelato Bricks, and thickshakes made with Jersey Dairy thickshake mix and Caramanfruit purees, plus a wide range of sauces, inclusions and décor. The big scoop Our resident gelato master Steve Carrigan ‘scooped’ the award for ‘Best New Product’ at the event for his fabulous rhubarb and custard crumble gelato. Steve was instrumental in working closely with Italian gelato manufacturer Rubicone to develop, not only the rhubarb flavour paste, but also the custard cremini and industry-first gluten-free crumble. All three products are exclusive to Henley Bridge and will be available to order from the end of this month (February). Says Steve: “This award is the culmination of a two years’ hard work developing these bespoke products alongside Rubicone. Rhubarb is a classic English flavour and not something generally eaten in Italy, so perfecting it took several attempts! “To my knowledge, there’s no other custard ripple available on the market so this is definitely an industry first.” Crunch time “Texture is massive this year and everything at the show was about added crunch,” continues Steve, “so our launch of Rubicone’s new range of Topping Crock (choco nut, strawberry, cookie, pistachio, wafer nut and pecan) and gluten-free crumbles (available in white, caramel, yoghurt, matcha and pistachio) was absolutely on point. “I used the white crumble in my winning rhubarb and custard recipe, and we also exhibited a dulce de leche apple crumple recipe too, which went down an absolute storm.” Of the 24 flavours on show, six had added ‘crunch’: cherry crunch, salted pretzel, salted popcorn, lemon meringue pie and treacle toffee with toffee pieces. Going nuts for nut-free Another new product launch at the show was Prova Gourmet’s range of nut-free nut flavourings, which allow customers with allergies to enjoy nut flavoured gelato without fear of a reaction. The range is available in pistachio, hazelnut, cocoa and coconut, and is set to be a game-changer in the industry. New beginnings The team came away from the show feeling huge positivity for the ice cream and gelato sector. Jenny Spain comments: “It was our most successful show to date and we spoke to so many new customers who are opening up new ice cream parlours across the UK. We also met quite a few bakery owners who are diversifying into offering ice cream within their operations''. “ICA is the only real opportunity for our existing and new customers to taste a wide range of the products that we supply, and I think we absolutely smashed it. “There are going to be some exciting new additions to gelato menus across the country this spring!”
Henleyetta's on the moo-ve!
Henleyetta has officially strutted her stuff, taking part in the RJA&HS cattle show... On Sunday 15th June, our udderly adorable Jersey calf packed her bags (well, hay bale) and trotted off from Westlands Farm for her very first cattle show. She entered the 'Heifers Under 6 Months Class' with her head held high and tail wagging – and guess what? She came third! Yes, THIRD! We’re totally over the moo-n. Pampered and prepped Behind every cattle show is a top-notch moo-nager – and Henleyetta had a star on her team: the fabulous Miss Izzy Dauny from Masters Farms! At just nine years old, Izzy learned how to clip Henleyetta’s fringe, trim her nails, and get her looking show-ring sensational. Dynamic duo Izzy and Henleyetta made quite the duo on the day – all eyes were on this dynamic dairy duo as they trotted into the ring. And judging by the proud smiles in the photos, this is just the start of something legendary. Big thanks to Phil Le Maistre and the whole Masters Farms team for their support. What's next? We’re already looking ahead to the October Cattle Show where Henleyetta will be back in action, freshly fluffed and ready to hoof it in style. We’ve got a sneaky feeling she’ll be moo-ving up the leaderboard in no time!
Chocolate market update: Cacao as a commodity
[updated 23.12.25] Cocoa arrivals keep prices steady Cocoa prices have remained more or less stable since our last report in October. Increased cocoa arrivals at ports in the Ivory Coast are bearish for cocoa prices. Monday's government data showed that Ivory Coast farmers shipped 970,945 MT of cocoa to ports from Oct 1st through to Dec 21st, down -0.1% from 970,945 MT in the same period a year ago. The Ivory Coast is the world's largest cocoa producer. A boost to West-African harvests Favourable weather in West Africa has helped with cocoa harvests. Cocoa farmers in the Ivory Coast have reported that a mix of rain and sunshine is helping cocoa trees bloom, and farmers in Ghana said rains have been regular and helpful to cocoa tree and pod development ahead of the harmattan season. The cocoa pod count remains approximately 7% above the 5 year average and the bean quality appears to be good. Global surplus forecasts trimmed On November 28, the International Cocoa Organization (ICCO) cut its global 2024/25 cocoa surplus estimate to 49,000 MT from a previous estimate of 142,000 MT. It also lowered its global cocoa production estimate for 2024/25 to 4.69 MMT from 4.84 MMT previously. In addition, Rabobank on Tuesday cut its 2025/26 global cocoa surplus estimate to 250,000 MT from a November forecast of 328,000 MT. Delay to European deforestation law The European Parliament on November 26 approved a one year delay to the deforestation law, keeping cocoa supplies ample. The EU regulation, known as EUDR, aims to tackle deforestation in countries whose imports into the EU include key commodities such as soybeans and cocoa. The delay of the EUDR will allow EU countries to continue importing agricultural products from regions in Africa, Indonesia, and South America where deforestation is occurring. A rise in compound chocolate Weak global cocoa demand is helping to keep prices lower. Demand has dropped across all continents and major chocolate companies have redeveloped some of their most popular brands such as Toffee Crisp, Penguin, Jacob’s Club and Blue Riband to be coated with compound chocolate rather than real chocolate. This will also contribute to a drop in demand for real chocolate. Compound chocolate is made using cocoa powder and other fats rather than cocoa butter. The result will be more availability of cocoa butter which means we will see white and milk chocolate, that use more cocoa butter in their recipes, drop further in price than dark chocolate. Sweeter savings ahead What does this mean for chocolate prices at Henley Bridge Ingredients going into 2026? Prices from our main chocolate suppliers will be dropping by an average of 12-20% so from February 2026 we will be passing these savings on to all our customers. Current cocoa graph: [updated 16.10.25] Cocoa prices take a sharp dip Cocoa prices settled sharply lower yesterday due to concerns about weak global cocoa demand. Malaysia's Q3 2025 cocoa grindings dropped 35% year on year. Today at 8am the European 3rd quarter 2025 grindings were announced and there was a decrease of 4.79%. The Cocoa Association of Asia (CAA) will publish their 3rd Quarter grindings on Friday 17th October. While for America, the National Confectioners Association (NCA) will publish their 3rd Quarter grindings today (16th October) at 16.00pm NY Time. General expectations in the market are for the aggregate figure to range from a conservative decline of -5% to as much as -15%. The results of the other grinding regions are needed for a consolidated view on total production. Following todays European Q3 grindings figures the London cocoa market initially increased by +£150/mt settling down to +£85/mt at the time of writing to £4,200/mt. This is a total drop of nearly £3,000/mt compared to January 2025’s peak of £7,100/mt. Signs of a stronger Ivory Coast crop The outlook for an improved cocoa crop in the Ivory Coast this year is also beneficial for prices. Chocolate maker Mondelez recently said that the latest cocoa pod count in West Africa is 7% above the five-year average and "materially higher" than last year's crop. The harvest of the Ivory Coast's main crop has only just begun but farmers are optimistic about the quality of the crop. Ghana's cocoa boom lowers prices Expectations of increased global cocoa supplies are lowering cocoa prices. Cocoa deliveries in Ghana have surged. Cocoa arrivals to ports in Ghana in the four weeks ending September 4 reached 50,440 MT compared to about 11,000 MT delivered in the same period in 2024. Ghana is the world's second largest producer of cocoa. The outlook for pricing into 2026 What does this mean for chocolate prices? At Henley Bridge Ingredients we have seen general chocolate prices come down in the second half of 2025 by approximately 10-20% which we have passed on to our customers. If the cocoa market stays around the +/- £4,000/mt mark or drops further we could see further price drops going into 2026. Current cocoa graph (as of 14:00pm GMT Thursday 16th October): [updated 20.08.25] Weather affects on cocoa crops There are still concerns about dry weather in West Africa that threatens the cocoa crops. There has been little to no rain over the past few weeks in the cocoa-growing areas of the Ivory Coast and Ghana, which could negatively impact the development of cocoa plants. Rainfall in the Ivory Coast and Ghana this season remains below the 30-year average, and combined with high temperatures, could hurt cocoa pod development for the main crop harvest that starts in October. There has also been a slowdown in cocoa exports from the Ivory Coast. Ivory Coast farmers shipped 1.78 MMT of cocoa to ports this marketing year from October 1 to August 10, up +6.6% from last year but down from the much larger +35% increase seen in December. Exports and quality challenges There are still quality concerns regarding the Ivory Coast's mid-crop cocoa, which is currently being harvested through September. Processors are complaining about the quality of the crop and have rejected truckloads of Ivory Coast cocoa beans. Processors reported that about 5% to 6% of the mid-crop cocoa in each truckload is of poor quality, compared with 1% during the main crop. The poor quality of the Ivory Coast's mid-crop is partly due to late-arriving rain in the region, which limited crop growth. The mid-crop is the smaller of the two annual cocoa harvests, which typically starts in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT. Another factor for cocoa is smaller cocoa production in Nigeria, the world's fifth-largest cocoa producer. Nigeria's Cocoa Association projects Nigeria's cocoa production will fall -11% yoy to 305,000 MT from a projected 344,000 MT for the 2024/25 crop year. Demand dips and market reactions We are now starting to see a drop in demand for chocolate. Chocolate maker Lindt in July lowered its margin guidance for the year due to a larger-than-expected decline in first-half chocolate sales. Also, chocolate maker Barry Callebaut in July reduced its sales volume guidance for a second time in three months, citing persistently high cocoa prices. The company projects a decline in full-year sales volume and reported a -9.5% drop in its sales volume for the March-May period, the largest quarterly decline in a decade. Weakness in global cocoa demand has been a factor for cocoa prices. The European Cocoa Association reported on July 17 that Q2 European cocoa grindings fell by -7.2% yoy to 331,762 MT, a bigger decline than expected. Also, the Cocoa Association of Asia reported that Q2 Asian cocoa grindings fell -16.3% yoy to 176,644 MT, the smallest amount for a Q2 in 8 years. North American Q2 cocoa grindings fell -2.8% yoy to 101,865 MT, which was a smaller decline than the declines seen in Asia and Europe. The future for cocoa prices What does this mean for chocolate prices? We are now starting to see some chocolate prices come down, in some cases by 10-20%. If the cocoa market remains at current levels or drops further we may see further price drops going into 2026 but this will largely depend on the main October crop yields, especially from Ivory Coast and Ghana where 60-70% of the world’s cocoa is grown. Current cocoa graph below: [updated 27.05.25] Cocoa pricing Cocoa prices have rallied sharply over the past two weeks on quality concerns regarding the Ivory Coast cocoa mid-crop, which is currently being harvested through September. Cocoa processors are complaining about the crop's quality and have rejected truckloads of Ivory Coast cocoa beans. Processors said about 5% to 6% of the mid-crop cocoa in each truckload is poor quality, compared with 1% during the main crop. However cocoa prices on Friday plummeted to 1-1/2 week lows and settled sharply lower as forecasts for favourable rain in West Africa are expected to aid cocoa crop development in the world's largest cocoa-growing regions. Meteorologist Vaisala said that moderate showers are expected to continue into next week in the cocoa-growing regions of West Africa. Please see latest graph below. A rebound in current cocoa inventories is also bearish for prices. Since falling to a 21-year low of 1,263,493 bags on January 24, ICE-monitored cocoa inventories held in US ports have rebounded and climbed to an 8-month high on Friday of 2,177,8904 bags. The poor quality of the Ivory Coast's mid-crop is partly tied to late-arriving rain in the region that limited crop growth. The mid-crop is the smaller of two annual cocoa harvests, which typically starts in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT. Consumer demand Concern that consumer demand for cocoa and cocoa products will wane is weighing on prices. On April 10, Barry Callebaut AG, one of the world's biggest chocolate makers, cut its annual sales guidance in the face of high cocoa prices and tariff uncertainty. Also, chocolate maker Hershey Co. recently reported that Q1 sales fell by 14% and said it anticipated $15-$20 million in tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. In addition, Mondelez International reported weaker-than-expected Q1 sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices. Cocoa prices also have a positive carryover from recent news that showed better-than-expected global cocoa demand. Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT, a smaller decline than expectations for a -5% y/y drop. Smaller cocoa supplies from Ghana, the world's second-biggest cocoa producer, are supportive for prices after Cocobod, Ghana's cocoa regulator, cut its Ghana 2024/25 cocoa harvest forecast in December for the second time this season to 617,500 MT, down -5% from an August estimate of 650,000 MT. The International Cocoa Organization (ICCO), on February 28, said the 2023/24 global cocoa deficit was -441,000 MT, the largest deficit in over 60 years. ICCO said 2023/24 cocoa production fell -13.1% y/y to 4.380 MMT. Looking ahead to 2024/25, ICCO on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years. ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT. Weather concerns in West Africa are also supporting cocoa prices. Despite the recent rains in West Africa, drought still covers more than a third of Ghana and the Ivory Coast, according to the African Flood and Drought Monitor. The outlook for chocolate prices What does this mean for chocolate prices? Belcolade chocolate prices should still drop for Q3 but the market spike back up to £7,500/mt, although short lived, may mean that prices will not drop by much. However we may still see a further drop in Q4 provided the market doesn’t spike again. A lot will depend on the next main October crop forecast. First indications will be in the next few weeks once the flowers start to appear on the trees. However the situation still remains very volatile so nothing is guaranteed. [updated 02.04.25] Cocoa exports The average estimate for this year's Ivory Coast mid-crop (April harvest) is 400,000 MT, -9% below last year's 440,000 MT. Cocoa prices have been dropping over the past month, with NY cocoa falling to a 4-month low last Friday and London cocoa posting a 4-month low Monday on an improving supply outlook and speculators selling their positions. On February 28, the International Cocoa Organization (ICCO) forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years. ICCO also projected that 2024/25 global cocoa production will rise +7.8% yoy to 4.84 MMT. Nigeria reported on February 27 that its Jan cocoa exports jumped +27% yoy to 46,970 MT. Nigeria is the world's fifth-largest cocoa producer. Monday's government data showed that Ivory Coast farmers shipped 1.41 MMT of cocoa to ports from October 1 to March 16, up +12% from last year. However, the pace has fallen from the 35% rise seen in December. Other factors affecting cocoa prices Demand concerns are also impacting cocoa prices. Executives from chocolate makers Hershey and Mondelez recently warned that high prices are hurting demand. On February 4, Mondelez executives warned of a potential slowdown in chocolate demand when CFO Zarmella said, "We are seeing signs where cocoa consumption is coming down." Also, on February 18, the company warned that chocolate prices could rise as much as 50% due to the surge in cocoa prices, which would curb chocolate demand further. In addition, Hershey executives said on February 6 that high cocoa prices are forcing it to reformulate recipes by replacing cocoa with other ingredients. Mondelez have taken the decision to reduce the size of their Milka Classic bar from 100g to 90g to avoid a large price increase. In additional Cadbury have announced that their 10 bar pack Twirls will be reduced to 9 bars for the same reason. This is also likely to impact demand. High cocoa prices reduced cocoa demand in Q4 2024, as seen in the quarterly grinding reports. On January 9, the European Cocoa Association reported that Q4 European cocoa grindings fell -5.3% yoy to 331,853 MT, the lowest in more than 4 years. Also, the Cocoa Association of Asia reported that Q4 Asian cocoa grindings fell -0.5% yoy to 210,111 MT, also the lowest in 4 years. Grinding figures are an indication of demand in the market. Ghana, the world's second-biggest cocoa producer, cut its 2024/25 cocoa harvest forecast in December for the second time this season to 617,500 MT, down -5% from an August estimate of 650,000 MT. The ICCO on February 28 said the 2023/24 global cocoa deficit was -441,000 MT, the largest deficit in over 60 years. Therefore the drop in the market has more to do with a fall in demand and speculators selling their positions. ICCO said that 2023/24 cocoa production fell -13.1% yoy to 4.380 MMT. However due to the lower demand the global stock deficit may turn into a small surplus in the 2nd half of 2025 (see surplus/deficit forecast graph below). Pricing forecast What does this mean for chocolate prices going forward? Prices will continue to increase for Q2 2025 but, if the current trend continues, we could see prices flatline in Q3 or possibly a modest drop. If the market stabilizes around the £6,000/mt mark we could possibly see a bigger price drop in Q4 2025 once the lower market prices filter through to manufacturers as there is always a lag of around 6 months. [updated 29.01.25] Cocoa market update: the outlook Unfortunately the cocoa market has continued to increase and is currently trading at just over £9,000/mt (as of 22/01/25). To put this into perspective the market had dropped to around £4,500 in June/July last year. As a result chocolate prices will continue to increase in the short term with renewed concerns around supply with slowing Ivory Coast cocoa exports tightening global supplies. Heavy rain in West Africa during the harvesting period has led to reports of high mortality rates of cocoa buds on trees. Heavy rain in the Ivory Coast has also flooded fields, increasing disease risk, and affected crop quality. Cocoa production The International Cocoa Association (ICCO) raised its global cocoa deficit estimate to -478,000 MT from May's -462,000 MT, the largest deficit in over 60 years. ICCO also cut its cocoa production estimate to 4.380 MMT from May's 4.461 MMT, down -13.1% yoy. Last Thursday, the European Cocoa Association reported that Q4 2024 European cocoa grindings fell -5.3% yoy to 331,853 MT, the lowest in more than 4 years. This is an indication that demand is also dropping. Ghana's Cocoa Board (Cocobod) cut its cocoa production estimate to 650,000 MT from a June forecast of 700,000 MT. Due to bad weather and crop disease, Ghana's cocoa harvest sank to a 23-year low of 425,000 MT. Ghana is the world's second-biggest cocoa producer. Nigeria's November cocoa exports rose +35% yoy to 38,015 MT. Nigeria is the world’s 6th largest producer. The impact on chocolate prices So what impact will this have on chocolate prices going into 2025? Chocolate prices will almost certainly rise again in Q2 2025 albeit not as high as the 20-35% increases we have seen previously. The increases are likely to be around 8-10% depending on the type of chocolate but this is not confirmed so could be higher. Cocoa powder prices will likely increase more due to the increased demand for compound/imitation chocolate where cocoa powder is used in the recipes. This may lead to availability issues on cocoa powder. Supply forecast From a supply point of view we have security of supply so we are not anticipating any supply issues on chocolate. Please see below the latest cocoa graph: Cacao price rates [updated 03.12.24] Cocoa Market Update: What’s happening with prices? The cocoa market is changing once again, with prices climbing due to growing concerns about crop yields, bean quality, and global supply shortages. Here’s what’s driving the changes and what it might mean for chocolate lovers and producers alike. Cacao price rates The weather factor West Africa, home to the largest cocoa-producing countries like Ghana and Nigeria, is experiencing dry and hot weather. This could impact the upcoming mid-crop, which begins in April. With weather conditions affecting harvests, the industry is bracing for a potential dip in production. Bean quality matters Bean quality from the Ivory Coast, the world’s largest cocoa producer, has also come under the spotlight. Recent harvests show higher bean counts—around 105 beans per 100 grams—which signals lower quality compared to the ideal counts of 80–100. This drop in quality adds pressure to the market. Global stock concerns Stockpiles of cocoa beans are dwindling, with US cocoa inventories at a 19-year low. Similarly, global stock ratios are tightening, with the International Cocoa Organisation (ICCO) projecting a 46-year low in the global stocks-to-grindings ratio. Shrinking supplies often lead to firmer prices, as seen in recent market trends. Mixed signals from demand and supply While cocoa demand remains robust in some regions—North American and Asian cocoa grinding figures are up—European grindings have dipped. On the supply side, there’s a slight silver lining: the pace of cocoa shipments from the Ivory Coast is increasing, and Cameroon’s production is on the rise. However, these factors have not offset the broader concerns about global deficits. A historic deficit? The ICCO has raised its global cocoa deficit forecast for 2023/24 to -462,000 metric tonnes, the largest in over 60 years. With lower production estimates and challenges in key regions like Ghana, where the harvest hit a 23-year low last season, the market remains under pressure. What does this mean? For now, these dynamics are keeping cocoa prices on an upward trajectory. For chocolate enthusiasts, it’s a reminder of how the journey from bean to bar is influenced by a complex interplay of factors—from weather and quality to global demand and supply. We’ll continue to keep an eye on the cocoa market and share updates as they unfold. On a personal note, we’re pleased to share that going into the new year our Callebaut and Belcolade pricing will remain at the current rate for as long as possible – so now’s your chance to stock up! Stay tuned for more insights into the world of cocoa and its impact on the delightful treats we all love! [updated 15.08.24] Movements within the cocoa market Although the cocoa market has dropped back from the peak we saw in April where the market was over £9,000/mt it is still very high and extremely volatile. This is likely to continue for many months to come as the industry has very little contract cover due to reluctance to cover long term whilst prices are still very high. Historically the average industry cover has been around 9-12 months but is currently only averaging around 6 months. This creates volatility where some cover is taken when there is a drop in the market which then has the effect of pushing the market up higher. In the last three months the market has hovered between £6,000 - £7,000/mt. Historically prices for booking future contracts have always been higher but we are still seeing an inverted market where future prices are lower than current price periods which suggest the market believes that prices will come down in the long term. An inverted market points to a risk in the short term, in this case the availability of beans. It could correct either way: to come down as the risk reduces (eg good crops) or the future positions might increase as we get closer to those positions. However, this will very much depend on the next harvests from the Ivory Coast and Ghana which will be around October. Cocoa arrivals from the Ivory Coast are still 25-30% down and even a good harvest will not cover the current deficit. In addition we are not really seeing a slowdown in demand because grinding figures are only down 2-3% despite the very large price increases, whilst the largest price increases are still to hit the consumer market. Some market analysts are predicting that the market could move back into a surplus position late 2025 into 2027. Harvest predictions Early indications from The Ivory Coast point towards a good crop compared to recent crops. The trees have plenty of flowers but adverse weather conditions between now and October could still prevent the flowers from fully developing into pods. We will not know for sure how good the crop will be until around the end of October/early November once actual arrival figures come in. In addition the European Union's upcoming Deforestation-free Regulation will also ban imports of cocoa produced on recently deforested land, posing a challenge for West African farmers who rely heavily on the European market. This regulation aims to curb deforestation but adds complexity and costs to the supply chain and may also increase prices further. What does this mean for chocolate prices? Due to the currently volatility of the market and continued concerns over supply, chocolate prices are likely to increase further into Q4 2024. They could possibly flatline in Q1 2025 but this is by no means guaranteed. Beans from the October harvest will reach Europe as of January 2025 so if the harvest is good we may see prices drop a bit from Q2 2025. Nestle and Mondelez are expecting a drop in consumer demand next year once high prices arrive in the consumer market. If global demand does drop we may see prices fall further. Prices for milk and white chocolate will increase more in the short term due to the cocoa butter ratio which is currently around 4.3. The butter ratio is the premium paid for cocoa butter compared to the market price of cocoa beans. As milk and white chocolate contain more cocoa butter than dark chocolate we can expect milk and white chocolate prices to increase more than dark chocolate. [07.03.24] Chocolate price rises explained It’s impossible not to notice that the price of chocolate has risen exponentially over the last 12 months. As one of the UK’s biggest chocolate distributors, we felt it was important to give you an update on the current trading situation and share our predictions on how we expect the market will perform in the coming year to help you make informed decisions. Here, Steve Calver, Commercial Director at Henley Bridge with over 30 years’ expertise tracking the cocoa markets, shares his knowledge and expertise… What affects chocolate pricing? Chocolate is a commodity and therefore its price fluctuates based on supply and demand. Factors such as global production levels, weather conditions and crop disease play significant roles in shaping price trends. For instance, lower cocoa production in major growing regions, like the Ivory Coast and Ghana, due to adverse weather conditions can contribute to tighter market conditions and influence prices. Growing demand for real chocolate from emerging countries, such as India and China, has also contributed to increased pressure on the commodity market. The current situation Cacao pricing is experiencing a historical high. Figures released this month reveal that raw cacao prices have reached a record high of £4,700 per tonne, significantly more than double the price it was in February 2023 which was around £1,900 per tonne. There are two cocoa crops a year – in May and October – and the next crop is expected to be affected by the El Nino weather pattern, resulting in drier weather conditions in Africa where 75% of the world’s cacao is grown. Cacao price rates Predictions for this year Chocolate prices unfortunately look set to remain at a record high for the whole of 2024. Price increases of 15-20% are likely for the first half of 2024 - and could potentially be replicated during the second half of the year. Colour co-ordination Dark chocolate was historically cheaper than milk or white chocolate (which contains more sugar and milk powder) but this trend has been completely reversed from an ingredients perspective with dark chocolate now commanding the same or similar pricing. 2025 and beyond Examining market analysis and future projections, it’s predicted that prices could start to fall as we move into 2025/6. Due to the high cost of real chocolate, some markets may go back to using imitation chocolate which would, in turn, reduce demand, but that’s just pure speculation at this stage. What is Henley Bridge doing to help? From a distributor perspective, the commercial team at Henley Bridge is working hard to try and soften the blow for customers. We held off price increases until February 1, delaying the increase by one month, and are stocking up where possible to hold off further price increases. We’re also trying to give a one month notice period of any impending price increases to give customers time to react. What can customers do? Chocolate prices rises can be addressed in two ways. You can either pass on the increases to your customers by upping the price of your products, or, as we have seen with large manufacturers, adopt the ‘shrinkflation’ method, in other words, make smaller products but sell them for the same price.
Same products, new look: Léonce Blanc is now Caramanfruit!
If you’re a fan of Léonce Blanc fruit purées (and let’s be honest, who isn’t?), you might notice something a little different on your next delivery — a fresh new look and a brand new name: Caramanfruit. But before you panic and think your go-to purée has changed, let us reassure you… it’s still the same mouth-watering taste, same trusted recipes, just with a brighter, bolder identity! Why the rebrand? Every great story evolves, and after more than 20 years of crafting top-quality fruit purées in the heart of the Rhône Valley, the team behind Léonce Blanc felt it was time for the brand to catch up with its own journey. Following their 2023 acquisition by the Savencia Group, this transformation is part of a long-term vision — bringing modernity, innovation and a splash of new energy to an already outstanding product range. Now proudly bearing the name Caramanfruit, the rebrand reflects not only their geographical roots (Caramanfruit was born in a small French village renowned for its orchards!) but also their ambition to stay dynamic, forward-thinking and fully in tune with the needs of today's artisans and chefs. What's changing? The branding. You’ll see the new Caramanfruit name and logo proudly displayed, with redesigned labels that celebrate the fruit front and centre. It’s all about vibrancy, clarity, and convenience – and yes, the packs still look tasty on your shelf! The transition is happening gradually throughout 2025, with the full Caramanfruit identity in place by autumn. What's NOT changing? Here’s the best part — everything you love about the products remains exactly the same: Same flavour, same recipe, same performance. The fruit varieties, colours, Brix levels, and storage? All unchanged. Same packaging. The trusty 1kg doypacks are sticking around, just with a refreshed look. New chapter, same delicious story At Henley Bridge, we’re excited to welcome this next chapter with Caramanfruit. Whether you’re crafting zingy sorbets, vibrant patisserie fillings, or fruity gelato, you can count on the same expertise and consistency you’ve always had with Léonce Blanc — now under a name that reflects the brand’s heritage and its juicy ambitions for the future. So go ahead, rip open that pouch and create something delightful… it’s still the fruit purée you know and love, just dressed up for a new era. Same fruit. Same passion. Simply Caramanfruit. Shop the collection now!
Diversifying with Jersey Dairy
A ‘soft’ approach to business Whatever business you work in, the landscape is a hugely competitive one, and it’s no different for chocolatiers. So, if you could add an additional income stream to your operation, which would help boost your profits with a relatively small investment, would you? N-ice profits As a business owner, it’s important not to rest on your laurels and instead always be open to new avenues and opportunities. Bolstering your business with complementary offerings is a savvy solution to upping your profits as well as upselling your existing products. With this in mind, a great suggestion for consideration is to install a soft serve ice cream machine in your shop. Perfect pairing Chocolate and ice cream are two of the nation’s favourite treats. You’ve got one covered – but you may be surprised to find out just how easy it is to add the other. The ice cream itself is very easy to make and serve, and the machine takes up very little space. Don’t freeze out new customers With ice cream sales continuing to grow in the UK, adding soft serve to your repertoire is very likely to attract new customers into your business, as well as pleasing your existing ones. Diversification provide an ideal opportunity to tap in to a whole new customer base - and introduce them to your delicious chocolate creations at the same time. Going one step further, you can even combine the two by offering soft serve ice cream which can then be personalised with one of your chocolates! Herd mentality As with everything in your business, quality is key, and we recommend Jersey Dairy Luxury Ice Cream Mix. Available in vanilla and chocolate varieties, Henley Bridge worked closely with Jersey Dairy to formulate the recipe for the chocolate version, which is made with Belcolade cocoa mass and deZaan cocoa powder. Make a moo-ve To find out more about the opportunity of soft serve, we’ve created a comprehensive downloadable guide, just for you.
