Watch chocolate prices in your local supermarket – they are about to jump as various chocolate brands say they will increase prices by 10-15% in 2025. This is driven by rising cocoa bean prices, which have increased fourfold in the last three years from a long-term average of about EUR 2,000 per tonne to about EUR 10,000 per tonne in early 2025. In recent weeks, cocoa prices have decreased about 35% from their peak, but it takes time before this makes it way to the consumer. Cocoa prices have increased due to a combination of factors that have decreased production including poor weather, climate change, low amount of cocoa tree plantings and government price regulation in Africa. The good news is that cocoa tree plantings in South America have increased, potentially increasing supply in a few years.
Source: International Cocoa Organization (ICCO), March 2025.