Toblerone isn't the only famous chocolate to have suffered "shrinkflation" a reduction in portion size for the same price, says Emiko Terazono in the FT. In recent years a 1kg Quality Street tin has been cut to 820g, and six Creme Eggs have become five.
Cocoa bean futures have risen only slowly in the past few years, but the price of cocoa butter has soared, gaining 40% this year alone. It contains beans and other ingredients, including sugar and whole milk powder, which have both jumped by 50% amid supply squeezes.
The squeeze is easing now, thanks to better weather.
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Deutsche Bank
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