Global consumers set to feel the price pain this Easter of steep rises in cocoa costs

The core Easter market is set to herald a major boost for confectionery brands large and small this month, but consumers are facing a notable rise in prices for many product ranges, according to analysts’ latest research, reports Neill Barston. As Nidhi Jain, commodity specialist at the Smart Cube group asserted, in the wake of major cocoa and sugar price hikes, retailers have moved to pass on these increased costs to shoppers, which could potentially impact on seasonal sales. According to the analyst, cocoa prices are currently 35 per cent higher than they were in December 2023, and a staggering 132 per cent higher than in February 2023, while sugar’s value rose by almost 16 per cent year-over-year (YoY) in January 2024. Commenting on the situation Nidhi Jain the situation is very much set to be felt by consumers, and as Confectionery Production has previously reported, the last major seasonal event at Christmas, saw retail prices rise by a huge 50%. “Cocoa’s price has reached a ...