Cost of Chocolate
As anyone who knows me, I like chocolate and have been learning about it and have even made it from scratch in a home kitchen. A February 10, 2007 Wall Street Journal article on chocolate provides some interesting details:
Mass-market players are going after the specialty-chocolate business because, while overall chocolate sales have gone up only 1% to 3% annually for the past 20 years, premium chocolate sales grew 28% between 2003 and 2005, according to analyst Mintel International. Dark chocolate was a $1.62 billion business in 2006, up 29% from 2003.
Companies are attempting to cultivate “a more educated consumer who is not just going to reach for a generic bar, but the one who is going to spend a dollar an ounce” or more, says Marcia Mogelonsky, a senior research analyst at Mintel. Premium chocolate bars start at about $8 a pound, Ms. Mogelonsky says, while supermarket candy bars can cost as little as $4 a pound.
On the topic of the cost of chocolate, another February 10, 2007 article from the New York Times reads
If you are still seeking the perfect gift for Valentine’s Day, have you considered a box of Noka chocolates?
Both you and the recipient may be in for a surprise. A 12-piece box costs $39 before tax and shipping. And for that you will get 0.9 ounce of chocolate. Not 0.9 ounce a piece, but 0.9 ounce in the entire black and silver box.
Do the math and that comes to $693 a pound. Buy just four pieces in the Signature stainless steel box and you are paying more than $2,000 a pound, making the Noka chocolate more expensive than delicacies like caviar, saffron or black truffles.
That’s pretty ridiculous. Consider this older December 3, 2003 NYT article citing Clay Gordon, who heads up The NY Metro Discover Chocolate Meetup which I attend monthly, saying:
“Chocolate is a relatively affordable obsession,” Mr. Gordon said. “The most expensive bottle of wine is way out of most people’s reach; the most expensive bottle of balsamic vinegar costs more than a thousand dollars. But the most expensive chocolate bar costs only $9.”
One thing I’ve learned is that if all you want is good chocolate, it’s relatively inexpensive.
Clay Gordon wrote:
Is Noka chocolate worth $693/lb? Is a half-bottle of Chateau d’Yquem worth $1000? A 100ml bottle of 75-year-old AIB-certified balsamic worth $185? A bottle of Louis Treize (in its Baccarat crystal decanter) worth $5000?
It’s all in the mouth of the beholder. The question is not, “How come it’s so expensive?” it’s, “How come it’s so cheap?” The vast majority of the best chocolates in the world are well under $100/lb and you can purchase bars or pieces for under $10.
You have to purchase the whole bottle of Chateau d’Yquem/balsamic/cognac making the entry price in the hundreds at a minimum.
Even with the Noka box. 12 pieces for $39. It may not be a lot of chocolate and it may even be great chocolate (I have not tasted it), but the cost of entry is very appealing compared with other gourmet food products.
Posted on 11-Feb-07 at 11:39 pm | Permalink