Chocolates, a household favorite in Belgium, have become a source of stress for both consumers and producers as inflation and soaring costs take their toll. The prices of chocolates are driven to rocketing high by rising inflation and increasing downside risks, two major economic challenges faced by many Eurozone countries. The recent sharp depreciation of the euro against the U.S. dollar has also added to inflationary pressures, further eroding purchasing power. With limited budgets, consumers are cutting back on non-essentials like chocolate.
"I'm really fond of Belgian chocolates. Unexpectedly, the prices are going always high and it affects all of us. I always check for discounts," said a customer. "Of course, let's say, last year I bought one kilo, now I'm buying half a kilo, maybe even 250 grams," he said.
The impact is equally severe for chocolate makers, who find themselves squeezed by higher costs and falling demand. Philippe de Selliers, CEO of a Belgian chocolatier, described the strain on the industry by saying: "Every business is depending on the economy. So when the economy is going bad, we'll be more difficult to keep the business. It's true that the volume of the chocolate business is flat the last year, or maybe minus one percent. So that's true that the industry, the chocolate industry this year was not increasing the volume."
A big disadvantage for chocolate production is the skyrocketing price of cocoa, the key ingredient in chocolate. Futures prices for cocoa have surpassed 8,500 pounds (about 10,730 U.S. dollars) per ton, nearly triple the average price from two years ago.
"The price of cocoa has increased dramatically in the last two years from an average of 3,000 pounds (about 3,787 U.S. dollars) per ton. There were some bad conditions, weather conditions. The stock of cocoa was not as high as it has to be. The second reason is the fact that there were lots of speculations on the price of cocoa. So we have increased with probably between five and ten percent," said Philippe de Selliers.
According to Eurostat, chocolate prices in the European Union rose by an average of 11.1 percent over the past year. Producers are adjusting their strategies under pressure. Some are reducing the cocoa content in their products, while others pursue high volume turnover with a lower margin.
Meanwhile, inflation in the Eurozone is coming back. Eurostat's preliminary data show the inflation rate in November comes in at 2.3 percent, up from 2 percent in October. Although still far below the peaks of two years ago, the trend signals growing challenges for both businesses and consumers.
Belgian chocolate under pressure amid inflation, economic downturn: industry insiders
A group of young American pickleball players engaged in vibrant cultural exchanges in China during the Chinese New Year, part of a growing wave of youth exchanges between the two countries.
The young athletes experienced a variety of activities in Shenzhen City, south China's Guangdong Province.
On Monday, the Eve of Chinese New Year, they tried making dumplings, a hands-on lesson in culture and teamwork, and shared their feelings making dumplings.
"A chef came over and showed us how to do it first and how to make it look cool," said Richie Pitot, a student.
"It was fun, but I wasn't very good at it, we weren't very good at it. It was more just having fun with the mistakes. This is their first time - it's our first time being here for Chinese New Year," said Ian Skott Harper, another student.
"The shape of the dumpling, kind of a coin, and togetherness. We were all making them together," said Isaiah Martin Valmonte, also a student.
These "student ambassadors" are in Shenzhen to promote what they describe as "pickleball diplomacy". Beyond the matches, they're diving into Spring Festival traditions.
In 2023, Chinese President Xi Jinping announced during his visit to San Francisco that China would invite 50,000 young Americans to China for exchange and study over five years to increase exchanges between the two peoples, especially between the youths.
The young athletes also visited a flower market to learn about local floral culture that is in particular related to the festival.
"I learned that each flower has its own special significance. I think a large difference is Christmas in the U.S. is cold [in color]. Here, there's every color you could ever imagine. It's warm, it's sunny, it's nice. And I think it's polar opposites. But in a way, they give the same meaning, it's all about family. It's all about connections, and it's all about spending time with the ones you love most," said Ryan Corkery, another student.
The American pickleball players watched the 2026 Spring Festival Gala on Monday and hosted a celebration of their own, with food, gifts, and plenty of talent.
"People can have differences, different cultures, different beliefs, but it's finding the similarities and building bridges, and that's our mission with pickleball diplomacy, we are honored 55 years later, watching how ping pong diplomacy brought the United States and China together, we are hopeful to be part of that too," said Jeffrey Sullivan, head of the U.S. Delegation of Pickleball Diplomacy.
On Tuesday, the New Year's Day, they visited a cultural heritage theme park to experience ancient Chinese customs.
The young athletes expressed excitement and awe at experiencing the rich cultural heritage such as traditional acrobatics.
"When the trapeze, when the kids were jumping through the hoops and rings that was so crazy, they're so talented. I didn't even think they could get that high in the air. Honestly, it was just beautiful to watch, you saw so much culture and it really told a story about where we are and made me have such a much deeper understanding of China and its culture. And I just I just love it here so much," said Michael Horton, a student.
"It's such a deeper cultural tradition than in the United States. We generally stay up till midnight and watch the ball drop, and that can be a lot of fun. But here there are so many traditions and they're so deep and long running. It's such a connected experience that you definitely don't get in the United States. And it's been such a wonderful experience so far. And I'm so grateful to have been here," said William Massey, another student athlete.
The Spring Festival, also known as the Chinese New Year, fell on Tuesday this year, and the official holiday season lasts nine days from February 15 to 23. The 2026 Chinese New Year marked the start of the Year of the Horse -- the seventh of the 12 zodiac animals in the Chinese zodiac.
American teens embrace dazzling cultural performances at Chinese New Year
