Cocoa prices have hit a two-year high. Due to increased demand, the cost of chocolate is expected to keep rising. So how does this impact your trick or treat shopping? Central Pennsylvania candy makers say you can hold onto the sweet treat’s current prices for a little longer.
Since 1942, Allen Dalby’s family has been creating this popular confection at Anstine’s Homemade Candy. But the price for quality treats is on the rise.
Dalby says, “Cocoa futures are trading at an all time high and industry says its because the demand for high end chocolate is way up.”
At Wolfgang candy, CEO Ben McGlaughlin says the rise is rooted overseas.
McGlaughlin says, “There are developing countries like India, Asia, that are seeing an inrease in demand for chocolate products in their marketplaces.”
He says there’s also a shortage of cocoa beans, due to dry weather conditions in West Africa where the beans are grown.
The chocolates you’re buying for this year’s Halloween are already on store shelves, so you won’t see an increase in the price. But come spring, the price you pay for your chocolate bunnies may change.
Dalby says, “Right now it’s looking like a 40% increase in our bulk price.”
McGlaughlin says, “So the consumer needs to sit back and wait and see what happens with the market place and understand that the manufacturers will do their best to not impact the consumer.”
Experts say one way to get around the increase in prices is adding ingredients to the candy, like hydrogenated oil. But Anstine’s workers say they’ll avoid any additives to keep their quality chocolate recipes ongoing.