Is chocolate too expensive — or not expensive enough?

It’s a question that keeps popping up as more people start thinking about where their treats come from. And the truth? Most of us aren’t paying anywhere near enough to reflect the real price of chocolate—especially for those who make it all possible: cocoa farmers. A fair price for chocolate is one that ensures sustainable livelihoods for cocoa farmers, covers the cost of production, and supports environmentally responsible farming practices. So why isn’t most chocolate covering this? And should we be paying?

At The Cocoa Circle, we believe in pulling back the wrapper and showing you what’s really inside.

The Real Price for Chocolate

When you buy a bar of chocolate—whether from your local corner shop or a gourmet chocolatier—you’re paying for more than just taste. You’re paying for the ingredients, yes, but also for time, packaging, branding, marketing, shipping, and a whole host of other hidden costs. Somewhere in that long and winding supply chain—often thousands of miles away from the polished shelves where you picked up your bar—there’s a cocoa farmer. And here’s the bitter truth: they’re getting the smallest slice of the pie.

In most conventional chocolate supply chains, cocoa farmers receive less than 6% of the final retail price of a chocolate bar. To put that in perspective, if you spend €3 on a bar, the person who grew the main ingredient—the cocoa beans—might get less than €0.18. That’s not just unfair. It’s unsustainable.

Why is the gap so wide?

It starts with how cocoa is traded. Most cocoa beans are sold as a bulk commodity on global markets, where prices are driven by speculation, not sustainability. Farmers have little to no bargaining power, often selling their crop to middlemen for whatever price is on offer that day—regardless of how much it cost them to grow it.

Then, as the beans travel from origin to processing to distribution, the value stacks up—but not in the farmer’s favour. Transport costs, warehousing, roasting, grinding, refining, and finally turning that cocoa into the smooth, shiny bar you unwrap—all of that adds cost. And at each stage, someone else is making a margin.

Branding and marketing can push prices even higher. A premium chocolate bar in a boutique store might sell for €5, €7, or more. But unless the company is directly investing in ethical sourcing, paying premiums for fair trade or beyond fair trade, the increase in price often doesn’t trickle down to the person who grew the cocoa.

Sadly, low cocoa prices mean that many cocoa farmers live below the poverty line.

So, What Is a Fair Price for Cacao?

A fair price for cacao—or cocoa—is one that allows farmers to earn a sustainable living, covers the real cost of production, and supports environmentally friendly practices. As noted in a 2015 analysis by Smith (via ResearchGate), the typical price for chocolate often ignores the environmental and social costs behind it.

In real terms, a fair price usually includes a premium of around €200–€300 per metric ton above the market rate. This extra money helps fund vital community projects like education, healthcare, and infrastructure in cacao-growing areas. It also supports climate-friendly farming, like agroforestry, so future generations can continue to grow cacao sustainably.

At The Cocoa Circle, we have seen first-hand how this works. Farms like Finca Cacayo and La Campesina del Cacao use these premiums to build better drying facilities, create nursery spaces, protect biodiversity, and empower women-led co-ops. We cannot wait to contribute more in the future, to ensure fair price for chocolate and cocoa.

What THEN Makes a Fair Price for Chocolate?

A 2016 report by the True Price Initiative analysed the external costs associated with cocoa production, finding the average retail price of a conventional 100g chocolate bar was around €1.20. However, when including the external costs of cocoa cultivation, transportation, and processing—estimated at approximately €0.40 per bar—the “true price” rises to about €1.60. This figure excludes other ingredients like sugar and milk. If similar external costs are considered for these additional ingredients, the total true price of a chocolate bar could be around €2. That’s before we even add on fees like marketing and profit margins. So let’s go ahead and assume marketing and profit may account for minimum €2, suggesting the price for chocolate should be at least €4 per 100g to ensure a fair income for the farmer.

In our books, a fair price for chocolate should reflect:

The quality of ingredients: Think single-origin, high-quality cacao, and clean label add-ins
The craftsmanship: From careful fermentation to small-batch roasting and hand-finishing
The ethics: Fair trade, direct trade, and transparent sourcing

Artisanal chocolates often range from €7 to €15 per 100g, and sometimes more. These aren’t just gourmet prices—they are prices that account for the care, complexity, and ethics behind the bar.

But here is the key: even then, it only makes a difference if the farmer is actually receiving a fair share of that price.

The Billion-Euro Question: Who Really Profits From Chocolate?

Let’s take a step back. The global chocolate industry is worth over €100 billion, with some of the world’s biggest brands posting record profits year after year. Supermarket shelves are full of shiny wrappers, indulgent campaigns, and “premium” bars promising richness in every bite.

But beneath the gloss, something doesn’t add up.

According to Oxfam, while chocolate companies rake in billions, cocoa farmers—the people who grow the key ingredient—are stuck at the bottom of the value chain. Most cocoa farmers earn less than €2 a day, well below the poverty line. Meanwhile, chocolate giants enjoy profit margins of 15–20% or more, and retailers often make more from one bar of chocolate than the farmer does in an entire week of work.

Here’s the stark reality:

Farmers earn just 6% (or less) of the final price of a typical chocolate bar.
Retailers and brands? They take up to 70%.
Even traders and processors earn more per kilo than the people who grow the beans.

So, who profits from chocolate? The answer is clear: brands, retailers, and shareholders—not the farmers.

Until the system is rebalanced—so farmers earn a living income and get a fair share of the value—the sweet success of chocolate will continue to be built on bitter inequality.

LOOKING AT THE WHOLE PICTURE

A truly fair price for chocolate must consider the entire supply chain. That means farmers paid well above commodity rates and they are applying transparent sourcing and ethical production practices. Furthermore, brands should not just say they care—but actively invest in sustainability and community impact, and nurture consumers who are informed, empowered, and proud of the choices they make.

At The Cocoa Circle, we call this going full circle. When everyone in the chain is valued, respected, and supported, the whole system thrives.

Why We Exist

At The Cocoa Circle, we are not here to tick boxes or make vague pledges.

We exist because the current system isn’t working. We believe in a new model—one where chocolate doesn’t come at the cost of exploitation. Where farmers are paid fairly, recognised as skilled professionals, and supported to thrive. Where cocoa is a bridge between cultures, not a barrier between profit and poverty.

Our mission is simple but powerful: To connect the circle. To give back to the people at the start of the supply chain.

To inspire cocoa lovers to choose better. To build a community where every homemade recipe, every chocolate bar, and every shared story creates ripples of fairness, joy, and change. Because we don’t just sell cocoa. We stand for it.

And if you have read this far—you probably do too.