Chocolates still expensive this Easter despite drop in cocoa prices
· Toronto Sun
Cocoa is no longer loco – pricewise – so why are Easter candy prices still higher than ever?
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The price of cocoa has risen sharply over the past few years, says the New York Post , due to environmental factors and Ghana and the Ivory Coast’s supply problems.
It reached a record high of $12,000 per ton in 2024 but prices have fallen dramatically since then, trading around $3,300 in April.
However, candy makers have opted to diversify their products and their ingredients, which keeps prices high.
Among the trends are smaller products, flavour changes with chocolate layers replaced with wafer, nuts or filling, and using alternatives including lab-grown, fermented, and upcycled “cocoa.”
Cocoa double the price in December than it is now
Another reason for expensive Easter candy is timing, given as recently as December the price of cocoa was roughly double what it is now.
That means for large producers, cocoa products used to make chocolate on sale now were likely bought when prices had peaked.
Let’s also not forget the price of other key chocolate ingredients have risen, including vegetable oil, an alternative to cocoa butter, alongside labour, energy, packaging and transportation costs.
The good news is that going forward, more favourable chocolate prices are forecasted due to better weather with the International Cocoa Organization saying there’s a surplus of global cocoa supplies and an even greater surplus anticipated for the 2025-26 growing season.
Demand for cocoa also appears to be cooling, which could mean a reduction in chocolate prices by the end of the year – just in time for Christmas.