Choco Flakes Price Trend and Forecast

Choco Flakes Regional Price Overview

Get the latest insights on price movement and trend analysis of Choco Flakes in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Choco Flakes Price Trend for the First Half of 2024

In the first half of 2024, Choco Flakes, a popular breakfast cereal coated with chocolate, experienced a significant upward price trend closely linked to the skyrocketing cost of cocoa. The unprecedented surge in cocoa prices, driven by poor harvests in West Africa due to drier weather conditions from the El Niño phenomenon, has led to reduced yields from the world's largest cocoa producers, Ghana and Ivory Coast. This, combined with rising costs of other raw materials like sugar, has directly impacted the cost of chocolate, a key ingredient in choco flakes.
 

Choco Flakes Price Chart

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The global demand for cocoa has continued to rise even as supply dwindles, causing chocolate producers to face shortages and implement allocation methods to manage limited inventories. The importance of choco flakes in the market, being a widely consumed product for both children and adults, makes it highly sensitive to these fluctuations in cocoa prices. As a result, the price of choco flakes has surged in response to the cocoa market's volatility, reflecting broader challenges within the chocolate industry and its supply chain during this period.

Analyst Insight

According to Procurement Resource, there is no relief in sight for the chocolate and allied products industry. The supply constraints are driving prices up for chocolate and, therefore, for all the derivative products like choco flakes as well.
 

Choco Flakes Price Trend for the Second Half of 2023

In the second half of 2023, Choco Flakes, a popular breakfast cereal made from cornflakes coated with chocolate, experienced notable price increases, closely mirroring the upward trend in cocoa and chocolate prices. The surge in cocoa prices, driven by supply constraints from poor weather conditions and diseases like black pod disease in key cocoa-producing regions, significantly impacted the cost of chocolate-based products, including choco flakes.

As chocolate is a primary ingredient in choco flakes, the rising cost of cocoa led to higher production costs for manufacturers, who were forced to pass on these costs to consumers. Additionally, increased prices of related inputs, such as sugar and milk powder, further compounded the production costs, making it more expensive for producers to maintain profit margins. The market significance of choco flakes lies in their wide consumption as a convenient, chocolate-flavored breakfast option, appealing to both children and adults. Consequently, any fluctuation in cocoa prices directly impacts the pricing of choco flakes.

Analyst Insight

According to Procurement Resource, current trends in the chocolate market create severe supply concerns for the coming times; therefore, the prices are expected to increase going forward as well.
 

Choco Flakes Price Trend for the First Half of 2023

Choco Flakes are one of the most consumed cereals around the world made out of corn flour, wheat, cocoa powder, and edible oil. With varied price fluctuations in the feedstock materials, the Choco Flakes prices were mostly elevated throughout the first half of the year 2023.

With growing cereals consumption, especially in countries like India, the market expanded, and the unforeseen changes in weather conditions affected the yields for agricultural products. Cocoa prices soared throughout the said period, pushing the Choco Flakes prices up, too. But a slump in maize prices balanced the situation a little. Overall, the Choco Flakes market remained anchored.

Analyst Insight

According to Procurement Resource, with the given market fundamentals, the Choco Flakes prices are likely to remain afloat in the upcoming months as well.
 

Choco Flakes Price Trend for the Second Half of 2022

H2 2022 for Choco Flakes started on a high note. The uphill journey continued for Q3 as the feedstock cornflour, wheat, edible oil, and chocolate prices remained high for a couple of months after July 2022.

Prices started declining around September, as the raw material prices and production costs started stabilizing around the same time. As the global supply chains normalized and the Chinese lockdown got lifted the upstream processes eased with reduced costs. So, after a wavered downhill journey for a while, prices plateaued towards the end of Q4.

Analyst Insight

According to the Procurement Resource, the choco flakes prices are expected to show almost stagnant oscillating trend. Given the current market dynamics grain prices are expected to remain almost flattened for some time, hence, choco flakes prices are expected to behave similarly.
 

Choco Flakes Price Trend For the First Half of 2022

Kellogg-one of the biggest breakfast cereal giants, has raised the price of all its products, including choco flakes, for the current year amid the high-cost inflation. Trade bottlenecks and shortages on everything from labour to raw materials to freight charges have impacted the supply chain worldwide and influenced the price trend of choco flakes.

Double-digit inflation in prices of ingredients such as wheat, corn, chocolate, and edible oils, along with pandemic-induced disruptions, have surged the choco flakes prices to an unprecedented level. Hence, the packaged food industry was forced to raise the prices to cushion their profit margins.

Procurement Resource provides latest prices of Choco Flakes. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.