A global cocoa shortage is driving up the price of chocolate in the lead-up to Easter.
The prices of Easter chocolate are expected to lift by up to 20 per cent due to bad weather and crop disease in West Africa where the majority of the critical ingredient is grown.
Global cocoa commodities hovered around US$2000 ($3187) a ton for several years, soaring to US$12,000 (more than $19,000) a ton in 2024.
Prices currently sit at around US$10,000 a ton, which will have a flow-on effect to supermarket shelves.
“Ultimately we’ve seen the commodity price of cocoa, essentially chocolate, skyrocket in the last 12 to 18 months,” Queensland University of Technology professor Garry Mortimer said.
“You’d expect to see retail prices lift anywhere between sort of 10 to 20 per cent.”
At Coles, a packet of Cadbury Dairy Milk Eggs will set shoppers back almost $7 or two for $10, while a 160 gram Kinder Surprise Bunny costs $12.80 and a 200 gram Lindt Gold Bunny costs $18.
A 300 gram bag of Lindt’s Lindor Assorted Chocolate Mini Eggs are down from $30 to $15 dollars at Woolworths right now, while a packet of Cadbury Creme Egg Minis will cost you $5.
Moritmer said the price rise could impact consumer behaviour.
“I think what we will see is shoppers actually shopping around, moving away from maybe the big supermarkets, maybe moving away from those premium Lindt and Lindor chocolates and aiming for maybe private label products, lower-cost chocolates,” Mortimer said.
