Global cocoa prices on the rise as Easter approaches

The price of cocoa worldwide is on the rise.

“$10,000 US a metric tonne,” said Sylvain Charlebois, food professor at Dalhousie University.

It is a record increase, causing a spike in the cost for cocoa baking supplies and chocolate in general.

“At the Ivory Coast in Ghana, there is a black pod that is affecting production right now,” Charlebois. “I put it’s just not there.”

Weather is also causing a cocoa transportation slowdown.

Charlebois says the price of chocolate hasn’t fully topped up.

Shoppers like Janis Hamilton will soon be paying a lot more at the store.

“Just like everything else,” said Hamilton.

Brenda Stephenson bought chocolate bunnies for Easter.

“$35.97 for three,” said Hamilton.

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Bernadette Foley is an avid baker who is braced for cocoa to get too pricey.

“Maybe I will go to the bulk barn to get just the amount that I need,” said Foley.

Peace by Chocolate owner Tareq Hadhad has concerns about the price of all groceries, not just cocoa.

“The world is living through a challenging time,” said Hadhad. “Inflation is eating through people’s disposable incomes that they have saved for years.”

Hadhad will patiently wait for prices to drop, and make every effort to not raise his prices.

“We are just trying to hold on,” said Hadhad.

Charlebois said as the cocoa price increase, consumers should brace for the practice of skim-flation.

“A lot of manufacturers are reformulated their products, and replacing cocoa with an artificial flavor,” he said.