Easter chocolate, other candy expensive despite drop in cocoa prices

Consumers looking to buy chocolate and other sweets for Easter will still be dealing with high prices, despite a fall in the cost of cocoa.

The price specifically for cocoa peaked in late 2024 and has dropped by 70% since then, reported Reuters.

A drop in the price of cocoa, however, has a delayed effect. Wells Fargo Agri-Food Institute Sector Manager David Branch said in a report that “most Easter chocolates were produced when cocoa was still extremely expensive, so shoppers should expect prices similar to or slightly above Valentine’s Day levels,” according to Reuters.

The cocoa prices have been affected by weather, disease and cocoa trees aging in West Africa, where 70% of all cocoa consumed worldwide is produced, Mr. Branch told ABC News.

Candy prices, downstream of the prices of materials like cocoa, have increased nearly 12% year over year, according to ABC News.

Despite the prices, candy is still the most popular item consumers are looking for to celebrate Easter on April 5. In a survey by the National Retail Federation, 92% of consumers said they would be buying candy compared with 90% for food as a whole and 64% who said gifts.

The National Retail Federation predicts that consumers will spend just under $200 on average and that nearly $25 billion will be spent on Easter altogether.