Cocoa prices have skyrocketed nearly 300 percent due to climate change impacts, including high temperatures and ageing trees, resulting in higher retail chocolate prices in the US and UK. Valentine's Day saw a 13 percent increase in Reese's Hearts bars' prices compared to last year. In the UK, a Twix white chocolate Easter egg rose in price by 47 percent due to both price increases and size reduction. Analyst Amber Sawyer highlights that such drastic changes stem from climate-related factors affecting cocoa production, suggesting persistent price inflation in the future.
High temperatures, ageing trees, and disease have diminished cocoa supplies and caused prices to soar nearly 300 percent last year, impacting chocolate affordability.
In the UK, Twix white chocolate Easter eggs increased from 5 to 6 pounds while also being downsized, marking a 47 percent rise in unit price.
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