Global Cocoa Shortage Drives Chocolate Prices to Record Highs

Valentine's Day 2025 sees chocolate prices surge by 10-20% as cocoa costs rise 70% year-over-year due to supply chain disruptions.

Cocoa prices have climbed to nearly $10,000 per metric ton, a 70% increase from February 2024, following a record high of over $12,600 in December 2024.
West African nations, which produce 70% of the world's cocoa, are struggling with bad weather and agricultural diseases, leading to reduced supply.
The cost of manufacturing chocolate has risen over 167% in the past two years, pressuring both retailers and consumers.
Major chocolate brands like Lindt and Mondelez have raised prices, while Hershey’s has managed to stabilize costs by securing cocoa contracts in advance.
Consumers are expected to spend a record $27.5 billion on Valentine’s Day gifts in 2025, despite higher chocolate prices and smaller product sizes in some cases due to shrinkflation.