Chocolate prices are on the rise as major supermarkets warn consumers to expect increased costs. A combination of poor cocoa harvests, including a record high cocoa price of $12,900 per tonne, and global production drops of 14% are to blame, primarily caused by extreme weather and crop diseases. Chocolate makers express concerns over these prices, indicating potential reductions in bar sizes or recipe changes. Experts predict that these high prices will likely remain for some time due to ongoing challenges in the supply chain.
The spike was driven by a -14% drop in global production, extreme weather in West Africa, and crop disease like cacao swollen shoot virus.
For anyone working with chocolate, pricing right now is nothing short of a nightmare, even before you factor in global tariff uncertainty.
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