Sweet treats, bitter prices: Why chocolate is getting more expensive

Chocolate lovers may need to dig deeper into their pockets as the price of their favourite sweet treat is set to rise. 

With cocoa prices reaching record highs, manufacturers are passing the cost onto consumers just before Valentine's Day and Easter.

Why are cocoa prices soaring?

As climate change and economic shifts affect global food production, shoppers worldwide must prepare for higher prices across many staple goods, including the beloved chocolate bar.

West Africa, responsible for producing 75% of the world’s cocoa, is facing a crisis. Severe weather conditions have devastated crops in top-producing cocoa countries like Ivory Coast and Ghana, leading to a critical shortage of cocoa beans.

This disruption in supply has caused cocoa prices to surge, impacting the entire chocolate industry.

The shortage has already led to a 45% price increase in 2024, significantly affecting global supply chains. Luxury chocolate brands, such as Lindt, have responded by increasing their prices and predict further hikes in 2025 to cope with rising production costs.

Consumers feel the pinch

For many chocolate enthusiasts, the price hike is already noticeable. Social media users have taken to Reddit to share their shock. 

One user, @candy-cream, posted: "My partner came home yesterday and asked me how much I paid for a 100g Lindt slab last week. I told him I remember it being around R79.99. He said he went to Woolworths today and it was now up to R89.99!?"

Another user, @Thepuppeteer777777, echoed the sentiment: "Exactly this. I remember paying R40 at the garage because I bought it as a gift for someone. When I saw it again and it was up to R75 my eyes nearly jumped out of my head from surprise."

What lies ahead?

With cocoa prices continuing their upward trend, consumers should expect further increases in chocolate costs.

South African shoppers will likely feel the impact in the coming months, making chocolate more of a luxury than a casual treat.

IOL Lifestyle