With cocoa prices more than doubling since the start of the year, confectioners are facing challenges and consumers may see smaller chocolate bars and more non-chocolate treats this Halloween.
Everybody knows it’s not Halloween without candy, but trick-or-treaters might find less chocolate filling their buckets this year. That’s because cocoa prices have more than doubled since the start of the year and have remained at record highs, according to Wells Fargo data shared with CNN. The surging prices have caused grief for confectioners during prime chocolate sales seasons like Valentine’s Day and Easter.
“It will start helping to boost supply, so that’s why we expect that the prices will come down.” What does this mean for Halloween? Though hope is on the horizon, experts project cocoa prices will remain high until at least September 2025. So, in the meantime, companies are pursuing a combination of workarounds. One of those ways is simply reducing the size of the product — a change perhaps most visible in candy variety packs. “There is probably some shrinkflation in these bags,” said Branch.
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