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business · 3 outlets · 3 linked reports

Cocoa Prices Crashed in 2026 — So Why Is Chocolate Still Pricier?

2026-07-07

AI-assisted: summaries and questions may be incomplete or incorrect. Verify important details with the linked original reporting.

Summary

After hitting a record ~$12,900 a tonne in December 2024, cocoa futures crashed to around $3,100 by March 2026 and sat near $5,000 by July as demand slumped.
Yet US consumer chocolate prices rose about 14% in early 2026 versus a year earlier.
The gap reflects hedging: chocolate makers lock in cocoa costs 12-24 months ahead, so 2024's record prices are still flowing through 2026 production budgets.

The question

Chocolate makers are slow to pass cocoa's price crash on to shoppers.

Original reporting

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