No Price Cut On Chocolate Bars

Press, Volume CV, Issue 30979, 8 February 1966, Page 8

No Price Cut On Chocolate Bars

“The PrsM” Special Service WELLINGTON, February 7. No price reduction in chocolate bars is likely in New Zealand, in spite of the low world price of raw cocoa, but New Zealanders, probably without realising it, have been enjoying a “chocolate bonus” for a number of years.

The low cocoa price has been causing considerable concern to Ghana and New Guinea, two of the world’s producers, and the effect of these prices has had repercussions throughout the world. In world markets the position of over-supply has almost reached glut proportions and at present the price on the London market of £7 18s 9d for 50 kilos is more than 10 per cent down on last year’s level. Fifty kilos is a little more than 1101 b. In Britain last week, one of the largest chocolate manufacturers announced a cut in the prices erf lib and Jib blocks of Id and 2d respectively. Smaller bars were being increased in weight In Australia, the major chocolate manufacturers have announced that the weights of their chocolate bars are being increased, with no change in price. This, in fact amounts to a cut of about 9 per cent in

the price. The trend in Britain over the years has been to retain standard weights and sizes for chocolate bars, the prices being altered to meet fluctuations in manufaicturing costs.

In Australia and New Zealand, on the other hand, for the last 12 years or so, an attempt has been made to stabilise the block prices, While altering the weight content, to meet fluctuations in cost. The Australian companies prefer to maintain the prices of 3d, 6d, Is and 2s for standard blocks. However, the amount of chocolate in the blocks never exceeds the advertised weight and the actual weight of the “Jib" Mock has been as low as 3 5-Boz. For the last two years, that is, up to the present adjustments, the “fib” block in Australia has weighed only 3 2-3 oz. New Zealand manufacturers have endeavoured to maintain the prices of blocks at 3d, 6d, Is 3d and 2s fld. There has been no announcement of any alterations in block size or price from New Zealand manufacturers.