French Consumers Will Spend More on Christmas Meals, But Chocolate Prices Will Remain High

Cocoa prices are up and so chocolate is still more expensive, so Christmas meals will cost more for French consumers.

French consumers will likely spend more on food and beverages come Christmas. But many have also planned to have a festive meal this time around. Food and beverages this year would be fairly priced this year except that chocolate.

Participants in Cofidis’s latest survey said that around 43 percent of them are going to find Christmas menus a bit heavier in their wallets this year. This is a good thing with regards to consumer confidence since many things will likely stay the same in price or decrease. Still, the average amount that French people will spend on a Christmas meal this year is 132 euros, up 12 euros on last year.

The CEO of Coopérative U, Dominique Schelcher told reporters that the co-operative had cut food prices, notably for items for festivity like foie gras, wheat based products and paper. A two year supply interruption from avian flu has caused prices to drop 5-6 percent and foie gras availability to increase 33 percent.

While levels of difficulty in crop harvest mean chocolates prices are raising by 5 to 6 per cent of which raw material is also increased. However, there is joy to chocolate lovers in Christmas. As excess supply, along with producers trying to clear stocks take its toll, so have oysters become a popular festive food as prices have dropped.

Coming up this holiday season, food & beverage prices are expected to be moderately priced, but chocolate aficionados will also find themselves on the hook for higher costs.