Poor cocoa harvests cause bitter price increase for Easter chocolate

This small chocolate maker is facing a bitter reality. There’s been an obvious increase that we’re feeling from our suppliers. The cost of cocoa, the key ingredient in all this chocolate, is way up, and that’s showing up on store shelves. We’re struggling to make ends meet without increasing prices to the point where they’re no longer affordable.

Cocoa prices have nearly doubled since January, hitting record highs. One big factor is disappointing harvests in West Africa, with very unseasonal weather patterns – too much rain, not enough rain – but there’s also a prevalence of disease. Even as inflation eases around the world, extreme weather events can still damage crops, leading to huge swings in prices.

Unless we put into action our climate commitments very quickly, we’re going to continue to see disruptions to our food systems. Experts predict the shortage may not be over because the expectations are that the 2024 crop is going to be even less than the 2023 crop was. It’s looking pretty bleak.

Take these Cadbury chocolate eggs, for example. Last year, they rang up at $17 a bag. This year, they can cost as much as $22. Major manufacturers that make Cadbury and Hershey chocolates have warned more price hikes may be on the horizon. Consumers could also get less bang for their buck as they’re going to look at adjusting package architecture and shrinking pack size a little bit. “Definitely have noticed that the portion sizes are a little bit smaller; prices have gone way up across the board. So yeah, it’s a little bit tough for sure.”

Some companies are swapping cocoa for cheaper substitutes to save cash, but this shop won’t go there. “We can’t really cut costs on the quality, and we want to keep putting out good quality chocolate, hoping that will keep chocolate lovers coming through their door.”

Nisha Patel, CBC News, Toronto.