Rich cocoa prices hitting shoppers with bitter chocolate costs as Easter approaches
1 year ago

Rich cocoa prices hitting shoppers with bitter chocolate costs as Easter approaches

Associated Press  

NEW YORK — Sweet Easter baskets will likely come at a bitter cost this year for consumers as the price of cocoa climbs to record highs. Big chocolate companies like Hershey’s and Cadbury maker Mondelez have been passing those costs on to consumers — and then some: Hershey’s net profit margins ticked higher to 16.7% in 2023 from 15.8% in 2022. Mondelez, which owns Easter basket staple Cadbury, has been relying on price increases to counter the surge in cocoa prices. It acknowledged price increases of up to 15% within its chocolate category in 2023 and higher prices will likely be a key factor in meeting revenue growth forecasts for up to 5% in 2024. “Its contribution will be a little bit less than we have seen in 2023, but it is higher than an average year.” Hershey raised prices on chocolate overall last year as inflation surged and said it increased prices on some grocery and food service items early in 2024.

Prices Price 2023 Easter Mondelez Chocolate Overall  cocoa  hitting  higher  2024  costs  chocolate  overall  easter  rich  shoppers  prices  consumers  rising  approaches  2023  price  bitter

History of this topic

Chocolate love has its price on Valentine’s Day as cocoa costs make hearts shudder, not flutter
1 month, 2 weeks ago

Chocolate love has its price on Valentine’s Day as cocoa costs make hearts shudder, not flutter

Associated Press  

BRUGES, Belgium — St. Valentine chocolates always seek to show how deep your love is. No beans, no Valentine’s chocolate “The price increase of cocoa is absolutely spectacular, now for 2, 2½ years,” said Philippe de Sellier, the head of both Leonidas and Belgian chocolate federation Choprabisco. They haven’t been this high for the last 50 years,” said Bart Van …

Why those Valentine's Day chocolates will be even more expensive this year
1 month, 2 weeks ago

Why those Valentine's Day chocolates will be even more expensive this year

NPR  

Why those Valentine's Day chocolates will be even more expensive this year toggle caption Scott Olson/Getty Bonbons and truffles are even more of a luxury this Valentine's Day. "It's been a pretty dramatic change to our business model," says Alex Whitmore, who runs Taza Chocolate, a Boston-area manufacturer. Sponsor Message The biggest cocoa deficit in decades The world's supply of …

Chocolate prices are up 20% this Valentine’s Day as cocoa prices hit record
1 month, 2 weeks ago

Chocolate prices are up 20% this Valentine’s Day as cocoa prices hit record

CNN  

New York CNN — It will be harder to find sweet deals on chocolate this Valentine’s Day. “This Valentine’s Day expect prices for chocolate treats to increase around 10-20% over last year as the price of cocoa has more than doubled since the beginning of 2024,” said David Branch, sector manager at Wells Fargo Agri-Food Institute. Hershey’s said it buys …

Be careful – this might just ruin your Valentine’s Day
1 month, 3 weeks ago

Be careful – this might just ruin your Valentine’s Day

The Independent  

Is chocolate off the menu for Valentine’s Day gifts? Kantar’s latest supermarket survey put food price inflation at 3.3 per cent in January, which is down on the previous month but still painful when one considers that it is cumulative. The US confectioner Hershey cited this when it released its third-quarter results which blamed “historically high cocoa prices and a …

Why you may soon need a nest egg to buy an Easter egg
1 month, 4 weeks ago

Why you may soon need a nest egg to buy an Easter egg

Daily Mail  

We have all seen Easter eggs in the shops as early as January. Market prices for the seasonal treats' key ingredient currently sit at around £8,600 a tonne and have more than doubled compared with this time last year. But the trade journal said manufacturers and retailers were rubbing their hands together because choc-loving Brits would continue to fork out …

Cocoa futures fall on signs of waning demand, sugar recovers
2 months, 2 weeks ago

Cocoa futures fall on signs of waning demand, sugar recovers

Live Mint  

NEW YORK, Jan 16 - Cocoa futures on ICE closed sharply lower on Thursday after data on fourth-quarter demand for the chocolate ingredient came in worse than expected. COCOA * London cocoa futures ​settled down 217 pounds, or 2.5%, to 8,529 pounds per metric ton. * Europe's fourth-quarter cocoa grind, a measure of demand, fell 5.4% from a year earlier, …

NY cocoa plunges after Christmas on profit-taking; sugar also down
3 months ago

NY cocoa plunges after Christmas on profit-taking; sugar also down

Live Mint  

NEW YORK, Dec 26 - New York cocoa futures fell sharply on Thursday, extending the market's retreat from last week's record high, with profit-taking amid thin trading volumes ahead of the year-end. COCOA * New York cocoa futures on ICE ​​settled down $825, or 7%, to $11,027 a metric ton. * Reuters technical analyst Wang Tao said New York cocoa …

Grocery inflation rises as supermarket trips hit four-year high
4 months, 2 weeks ago

Grocery inflation rises as supermarket trips hit four-year high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Supermarket prices were 2.3% higher than a year ago last month, up slightly on …

Why you’re seeing scary-high chocolate candy prices this Halloween
5 months ago

Why you’re seeing scary-high chocolate candy prices this Halloween

NPR  

Why you’re seeing scary-high chocolate candy prices this Halloween toggle caption Chris O'Meara/AP As cocoa prices continue to spike, shoppers see the jump-scare prices for chocolate candy at the grocery store this Halloween season. Chocolate makers expand their palates Chocolate manufacturers will likely feel the pain for some time, which means chocolate candy prices will also stay high for a …

Why your Halloween candy might cost more this year (and it’s not for the reason you may think)
5 months, 1 week ago

Why your Halloween candy might cost more this year (and it’s not for the reason you may think)

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Chocolate prices are going up this year amid a shortage of its main ingredient, cocoa …

Chocolate prices soar in bad news for Halloween revellers
6 months, 1 week ago

Chocolate prices soar in bad news for Halloween revellers

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Our research shows that despite overall food and drink inflation continuing to fall, chocolate …

Cocoa Declines as Lindt Warns of Global Chocolate Slowdown
8 months, 1 week ago

Cocoa Declines as Lindt Warns of Global Chocolate Slowdown

Live Mint  

-- Cocoa fell in New York, paring some of Monday’s big gain, as chocolate maker Lindt & Spruengli AG warned that the global chocolate market is facing pressure from high prices. While Lindt reported organic sales growth in the first half, Chief Executive Officer Adalbert Lechner said the global chocolate market was seeing a slowdown for some products. “The speed …

Cocoa prices hit all-time high after doubling this year - it is not good news for chocolate lovers
1 year ago

Cocoa prices hit all-time high after doubling this year - it is not good news for chocolate lovers

Daily Mail  

Chocolate lovers have already faced price hikes for their favorite sweet treats Experts warn firms may start cutting chocolate from recipes to keep down costs Cocoa prices are surging due to poor climate and bean disease in West Africa Cocoa prices have doubled so far this year - and that is more bad news for chocolate lovers after two years …

Pricier Easter bunnies and eggs. Half-dipped Kit Kats. What's up with chocolate?
1 year ago

Pricier Easter bunnies and eggs. Half-dipped Kit Kats. What's up with chocolate?

NPR  

Pricier Easter bunnies and eggs. toggle caption Sophie Garcia/AP Wrong conditions at a wrong time of the year Roughly two-thirds of the world's cocoa is grown in West Africa, most of it in Ivory Coast and Ghana. if prices are very high, people start producing more of that commodity," says John Ament, an independent consultant who's the former head of …

It's a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits
1 year ago

It's a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mondelez said it raised chocolate prices up to 15% …

Enjoy your already inflated Easter eggs - experts predict chocolate could be double the price by next year
1 year ago

Enjoy your already inflated Easter eggs - experts predict chocolate could be double the price by next year

Daily Mail  

By Easter Monday, Cadbury alone will have sold more than 450m chocolate eggs and 15 million bunnies in Australia and New Zealand, despite the soaring price of the festive treats. This year's haul of sweet treats has been saved from the full effect of cocoa futures reaching more than $15,300 a tonne because Easter eggs are made up to a …

British shoppers urged to buy Fairtrade chocolate over Easter
1 year ago

British shoppers urged to buy Fairtrade chocolate over Easter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy British shoppers are being urged …

The price of a Freddo has gone up again and won’t drop soon
1 year ago

The price of a Freddo has gone up again and won’t drop soon

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Easter will likely be just the start of chocolate lovers’ …

Chocolate woes set to last beyond Easter as weather takes toll on cocoa harvests
1 year ago

Chocolate woes set to last beyond Easter as weather takes toll on cocoa harvests

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Easter is set to be …

Rich cocoa prices hitting shoppers with bitter chocolate costs as Easter approaches
1 year ago

Rich cocoa prices hitting shoppers with bitter chocolate costs as Easter approaches

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sweet Easter baskets will likely …

Cocoa prices soar ahead of Easter as `impact of climate...
1 year ago

Cocoa prices soar ahead of Easter as `impact of climate...

Daily Mail  

With Easter fast approaching, you might have already begun to notice that Easter eggs are more expensive this year. Some Easter eggs in the UK are now up to 50 per cent more expensive than last year, and experts say that climate change is to blame As the choc-heavy holiday of Easter approaches, the prices of some Easter eggs might …

Egg-citing Easter Egg deals in Amazon's Spring Sale: Hotel Chocolate, Cadbury, Kinder and Nestle are all reduced (run, don't walk!)
1 year ago

Egg-citing Easter Egg deals in Amazon's Spring Sale: Hotel Chocolate, Cadbury, Kinder and Nestle are all reduced (run, don't walk!)

Daily Mail  

SHOPPING – Contains affiliated content. Amazon shoppers can stock up their cupboards for Easter with a huge range of Easter eggs, chocolate and treats now reduced in the Amazon Spring Sale. Whether you prefer luxury offerings from the likes of Hotel Chocolate or if Cadbury's is more up your street, the Amazon Spring Sale has plenty of tempting deals on …

Why chocolate prices are likely to skyrocket soon
1 year ago

Why chocolate prices are likely to skyrocket soon

Salon  

You might want to stock up on chocolate for Easter pronto — because chocolate prices are likely bound to explode very soon. Inflation plays a part, but the bigger issue at hand is that cocoa cultivation in both Africa — specifically Ghana and the Ivory Coast — and Ecuador has reportedly become much more complicated due to climate change, as …

Chocolate prices this Valentine's Day will be at a record high. What's behind the bittersweet hike?
1 year, 1 month ago

Chocolate prices this Valentine's Day will be at a record high. What's behind the bittersweet hike?

ABC  

Gifting your loved one chocolates on Valentine's Day is a time-honoured tradition, but this year's record high prices could put a damper on the romance. "It's a little bit of a perfect storm, with lower productivity from the cocoa farmers and then slightly lower demand," he said. Associate Professor in social and environmental accounting at the University of Wollongong, Stephanie …

Cocoa prices spiked to an all-time high right before Valentine's Day
1 year, 1 month ago

Cocoa prices spiked to an all-time high right before Valentine's Day

NPR  

Cocoa prices spiked to an all-time high right before Valentine's Day Enlarge this image toggle caption Hermann J. Knippertz/AP Hermann J. Knippertz/AP As Valentine's Day approaches, the price of cocoa has never been higher. "Quite honestly, all of our chocolates have increased in price," says Ginger Park, who has run a chocolate shop named Chocolate Chocolate in Washington, D.C., for …

Less boo for your buck: For the second Halloween in a row, US candy inflation hits double digits
1 year, 5 months ago

Less boo for your buck: For the second Halloween in a row, US candy inflation hits double digits

Associated Press  

Spooked by the high price of Halloween candy? Numerator, a market research firm, said its surveys show about one-third of U.S. consumers plan to trade down to value or store brands when buying candy for trick-or-treaters this year. “There may be no price relief in sight, at least through the first half of 2024,” said Dan Sadler, principal of client …

Chocflation! Bars could shrink even further in size amid rise in cocoa prices because of heavy rain in Africa
1 year, 8 months ago

Chocflation! Bars could shrink even further in size amid rise in cocoa prices because of heavy rain in Africa

Daily Mail  

Chocolate bars could shrink even further in size after the price of one of its key ingredients soared. Now experts have warned that it could see food companies, who have already cut the size of their bars and biscuits through 'shrinkflation', considering more reductions - even marketing smaller products as a healthier choice, while charging the same or more. Last …

Chocolate production and consumption on the rise across the globe, says new data
6 years, 11 months ago

Chocolate production and consumption on the rise across the globe, says new data

The Independent  

Sign up to IndyEat's free newsletter for weekly recipes, foodie features and cookbook releases Get our food and drink newsletter for free Get our food and drink newsletter for free SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chocolate consumption around the world is on the rise, according to Mintel Global New …

Easter candy hunt gets cheaper as funds hit the exits on sugar
7 years, 11 months ago

Easter candy hunt gets cheaper as funds hit the exits on sugar

Live Mint  

New York: As Americans prepare to fill their Easter baskets with sweet treats, hedge funds aren’t feeling the sugar rush. “We expect prices to stay in a downtrend.” The funds reduced their sugar net-long position, or the difference between bets on a price increase and wagers on a decline, by 23% to 43,381 futures and options contracts in the week …

Cadbury launches two new chocolate bars amid rising commodity prices and a slump in pound sterling
8 years ago

Cadbury launches two new chocolate bars amid rising commodity prices and a slump in pound sterling

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

Cadbury's Freddo chocolate bar price to rise to 30p due to rising commodity prices
8 years, 2 months ago

Cadbury's Freddo chocolate bar price to rise to 30p due to rising commodity prices

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. A Mondelez spokesperson …

Cocoa climbs to highest price since 2011 as chocolate makers buy
11 years, 1 month ago

Cocoa climbs to highest price since 2011 as chocolate makers buy

Live Mint  

London: Cocoa climbed to the highest level since 2011 in London as chocolate makers stepped up purchases just as arrivals from the main crop in leading producer Ivory Coast are starting to tail off. Bean deliveries to Ivory Coast ports were estimated 16% higher from the start of the season on 1 October through 9 February compared with a year …

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