Warning over price of chocolate as cocoa cost soars to new record

manchestereveningnews.co.uk:

Chocolate lovers might have to pay more for their favourite treat as cocoa prices hit a record high on Friday. The cost of cocoa, the key ingredient of chocolate, has surged by over 40% in just the last month, reaching £4,909 per metric tonne.

Cocoa prices were already up from around £1,904 a year ago. Last month, Cadbury's warned that it was having to make "carefully considered price increases". "Making changes to the price of our products is always a last resort, however, costs across our supply chain have risen steeply," it said in a response to a customer on X, formerly Twitter. Try MEN Premium now for FREE...

just click here to give it a go. "Core ingredients we heavily rely on, like cocoa and sugar are a lot more expensive, while the cost of energy, packaging, and transport also remain high." "As a result, we are having to make some carefully considered price increases across our range so we can continue to provide consumers with the brands they love without compromising on taste or quality." In other news, Nestle announced earlier this week that it would stop making Breakaway and Yorkie biscuit bars due to falling sales.

On Thursday, US producer Hershey's said it was going to cut costs by 300 million dollars (£238 million) and warned it would miss market forecasts.