With Easter approaching, shoppers are noticing sky-high cocoa prices
Fox News
This Easter, consumers will have to fend off another source of high costs. Sweet Easter baskets will likely rise due to near-record-high cocoa prices.
Sugar prices are also rising. Futures for a pound of sugar are up about 8% in 2024, after rising 2.7% in 2023.
Big chocolate companies like Hershey's and Cadbury maker Mondelez have been passing those costs on to consumers — and then some: Hershey's net profit margins ticked higher to 16.7% in 2023 from 15.8% in 2022. Mondelez reported a jump to 13.8% in 2023 from 8.6% in 2022.
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