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This Easter, soaring cocoa prices will continue to have an effect on the price of chocolate, experts say — and consumers will likely be looking for deals to fill their baskets.
Cocoa prices have risen significantly in the past couple of years as crops in key cocoa-growing countries have been hit hard by a number of factors, including extreme weather.
Cocoa prices on financial markets soared above US$12,000 per ton in 2024. Recently they have been hovering around US$8,000 per ton, but that’s still way up from where they were before — hovering around the US$2,000 mark in 2022, according to data from Refinitiv.
For chocolate makers, raising the price of their products has been a necessity, especially if they want to keep producing the same quality their customers are used to.
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