Cocoa Prices Plunge 70%, Chocolate Retail Rises

Cocoa prices have plummeted nearly 70 percent since last Valentine's Day, yet retail chocolate prices continue to climb in the United States and Europe, leaving consumers facing higher costs for holiday treats like heart-shaped boxes and Easter bunnies.

According to market research firm Datasembly, chocolate prices in U.S. stores rose 14 percent between January 1 and the first week of February this year compared to the same period last year. This follows a 7.8 percent increase during the equivalent timeframe in 2025. In Europe, the hikes have been more pronounced, with German government figures showing an 18.9 percent rise in chocolate prices for 2025.

The fluctuations in cocoa futures stem from a combination of supply disruptions and shifting demand. In 2024, prices more than doubled due to insufficient rainfall and crop diseases in West Africa, the source of over 70 percent of the world's cocoa. The beans from the cacao tree form the core ingredient in both dark and milk chocolate. Since then, weather has improved in major producers Ivory Coast and Ghana, while output has grown in Ecuador and other nations, according to a J.P. Morgan analysis. This boosted supply has helped...