Valentine's Day chocolate presents may cost up to 30% more this year, following significant increases in cocoa prices. According to Saxo’s analysis, premium chocolate boxes like Ferrero Rocher have gone from £9 to £11.75. Other popular chocolates, such as Dairy Milk and Celebrations, have seen price hikes around 18%. Although prices have stabilized, reduced demand is expected to play a critical role in normalizing costs, as many consumers resist enduring these higher price points amidst ongoing supply challenges from West Africa.
Cocoa futures traded in London have stabilised between 8500 and 9000 GBP per ton, following a dramatic 2024 that saw prices rally from around £3500 per ton to a record high in April above £10,000 per ton.
Overall, with supply from key producers in West Africa not showing much signs of improving any time soon, it will have to be lower demand that eventually helps stabilise prices, however, for now still near historical levels.
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