Chocolate Prices Are Falling!

December 15, 2016

© Mikael Damkier | Dreamstime

Chocolate lovers can breathe a sigh of relief.  For all the doom and gloom about potential chocolate shortages earlier this year, cocoa prices are falling! Two-thirds of the world's chocolate comes from West Africa which was in the midst of a severe drought a year ago, which caused cocoa futures to skyrocket.  Now that drought is over and cocoa prices are at a 3 year low.  Mixed in with manufacturers using less chocolate by making candy sizes smaller, using fillers and people just consuming less candy, the world has the biggest cocoa surplus in 6 years.  That means retail prices are dropping, with chocolate prices fell 16% in the four weeks through Nov. 6 from the prior four-week period.

SOURCE: Bloomberg

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