Cocoa Futures Drop Two-Thirds; Will Chocolate Prices Fall?
Creatrip Team
a month ago
Cocoa futures have slid to about $4,165 per tonne, down 66.9% from a record high of $12,565/tonne in December 2024. Prices rose sharply last year due to poor harvests in West Africa, prompting South Korean chocolatiers to raise retail prices—Lotte Wellfood increased prices twice (average 12% and later 9.5%), while Orion and Haitai raised prices by about 10.6% and 8.6% respectively. Supply from South America helped stabilize and then reverse the spike, and analysts expect cocoa to return to near-average levels (mid-$2,000s–$3,000s/tonne) within weeks to months; however, some warn of oversupply and further falls. Manufacturers say immediate price cuts for consumers are unlikely because companies still hold inventory bought at higher costs under long-term contracts, and other factors like labor and distribution costs remain elevated.
