Valentine's Day chocolates are set to become 10 to 20% more expensive this year, largely due to a staggering 143% increase in cocoa bean prices since January 2024, driven by adverse weather and cocoa diseases in West Africa. Despite major candy manufacturers indicating price hikes, the immediate impact on Valentine's Day chocolates might be softened as many have pre-purchased cocoa at last year's prices. As consumers adapt, some are opting for alternative gifts or searching for bargains, highlighting a shift in purchasing behavior amidst rising costs.
Chocolate is going to be more expensive, as nearly all major candy manufacturers have indicated they will have to raise their prices.
Many large manufacturers buy cocoa beans nearly a year in advance, so the cost of this Valentine's Day treats won't reflect current cocoa prices.
Consumers are getting savvier by hunting for deals, downsizing their treats, or even skipping chocolate altogether.
Chocolate treats are expected to increase 10 to 20% for the holiday and throughout 2025.
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