Chocolate Price Increase 2024. The cost of cocoa, the key ingredient for making the beloved sweets, shot up by 136% between july 2022 and february 2024, according to unctad commodities price monitoring. Below you will see the rate on march 26th, 2024, which is a +231.56% increase in cost in the past calendar year.
When hershey and mondelez, which owns brands like cadbury and toblerone, reported earnings recently, the price swings were a big. The price of cocoa began creeping up in the second half of 2022.