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While our chocolate is highly appreciated outside of Ecuador, within Ecuador we are not seeing a surge in sales, instead imports are gaining market share. Cost is important when evaluating consumption; but it is not the only thing that should be considered.
It is correct to say that our chocolate is consumed in a spirit of nationalism, but in reality when it comes to chocolate it is a question of quality that needs to be evaluated. The Ecuadorian brand on chocolate is a source of pride.
The difference with the import price is caused by different factors: cocoa, the raw material for chocolate, has experienced a period of significant price fluctuations, reaching a maximum ceiling of more than $12,000 per ton in April, stabilizing at around $7,000 in May, and reportedly exceeding $10,000 again in the third week of June, with the New York Stock Exchange closing price at $7,520 on Friday, June 28. Investing.com.
This has implications for the industry. Another factor in favour of the cost of imported chocolate is discovered by simply reading the label, which shows the amount of cocoa mixed with sugar, flavouring and milk, making it cheaper.
The value of production and the facility to import goods at zero tariffs on behalf of markets such as Europe also play a role. Even so, it is still possible to find Ecuadorian chocolate at affordable prices, thanks to the quality of the local cocoa.
Bioplastic from cocoa shells is among innovations at Chocolate Expo 2024
Products that receive international awards should be considered one of the hallmarks of the Ecuadorian brand and the government, through its ministries, must build bridges with associations of product producers in order not only to make the outside world aware of the benefits of Ecuadorian chocolate, but also to spread and promote the consumption of the best within.
Now is the time to promote our industry knowledge across the country and continue to promote it abroad. (profound)
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