The true Price of Chocolate?

Abstract

Chocolate prices generally do not incorporate many of the environmental and social externalities, costs which are incurred as the main ingredients such as cocoa and sugar move from farms, to factories to consumers. Nor do prices reflect the benefits of non-conventional production and alternative modes of governing supply chains. Most costs occur at farm level, although manufacturing the ingredients and creating end products such as chocolate bars also brings with costs to nature and society. As corporate and consumer social responsibility has risen up business, political and social agendas, business cases are being made to change the status quo. Prices are starting to reflect economic as well as environmental and social costs. Identifying and agreeing how to measure both costs and benefits can aid decisions about who, where and how such externalities are borne