Chocolate price hikes just the start as cocoa soars

An employee prepares Easter chocolate in the workshops of Monegasque three-Michelin-star chef Alain Ducasse's chocolate manufactory dubbed "Manufacture Alain Ducasse", in Paris, on March 15, 2024. (Photo by JULIEN DE ROSA / AFP)

LONDON: As the Easter holidays approach, higher cocoa prices mean shoppers are paying far more for their chocolate eggs and bunnies. But that’s just the tip of the iceberg.

Higher prices in stores now reflect increases in cocoa in 2023. Since then, the rally has gone into overdrive, and cocoa has more than doubled in price already this year, making it the world’s hottest commodity.