
Savannah Pennington
Staff Writer
As cocoa prices continue to rise, shoppers this Halloween season saw jump-scare-worthy prices for chocolate candy. Numerous poor crop seasons have reduced the supply of cocoa, a key ingredient in chocolate, increasing the price of chocolate and other confectionery manufacturing by 45% from January through September.
The shortage of chocolate for retailers stems from extreme weather in West Africa, which grows the majority of the world’s cacao beans. The combination of intense rains and massive dry spells led to harsh conditions for growing conditions for cocoa including pests and disease.
Cocoa harvests have come up short for the third year in a row; regulators in the Ivory Coast stopped selling cocoa export contracts at one point due to the uncertainty over the crops.
While price fluctuations are not unusual in the food industry, this year’s increase is marked by several compounding factors that have pushed consumer price tags to higher levels.
Dollar sales for chocolate candy in the past year have risen 1.5%. This is driven by both inflation and rising shelf prices. Many consumers faced with the price of these chocolate candies are cutting back on brands like Hershey’s and Mars. The number of chocolate candy units sold during this same period dropped almost 5%.
The cost of cocoa has been rising for over two years. In February of this year, right before Valentine’s Day, it broke the all-time record from 1977 and has continued to rise, as reported on by the U.S. Bureau of Labor Statistics.
Retail chains are also feeling the pinch from labor shortages and shipping costs, which have aggravated the issue. Many major stores including CVS, Target, Walmart and Walgreens have passed these increased expenses onto consumers, leading to a noticeable uptick in prices for Halloween candy this year. Consumers in Lakeland have noticed these price changes.
“There’s been an increase of people coming in to buy chocolate and candies for Halloween, and then leaving when they see the price,” local Walgreens Manager Cormac Matso stated. “We aren’t getting as much chocolate in, in the first place, and no one wants to buy the stuff we have until it’s discounted after the holiday.”
Retailers had to adapt. Stores like Walgreens and Target have offered promotional sales and discounts to encourage candy purchases, while others have adjusted their inventory to include a broader range of non-chocolate items that are more budget-friendly.
The food industry has not been immune to economic inflation, and rising transportation costs have worsened the issue. Shipping expenses for both raw materials and finished products have experienced periodic increases over recent years due to higher fuel prices and global logistical challenges. These added costs are ultimately passed down to consumers. Despite the higher chocolate candy prices, many people still enjoyed the sweet treats this Halloween season.