Cocoa prices have fallen nearly 70% since last Valentine’s Day, but that won’t make heart-shaped boxes of chocolate or even chocolate Easter bunnies more affordable this year.
Chocolate prices at U.S. retail stores rose 14% between Jan. 1 and the first week of February compared to the same period last year, according to market research company Datasembly. That’s on top of a 7.8% increase for the same period in 2025.
Europe has seen even steeper price increases. In Germany, chocolate prices rose 18.9% in 2025, according to government figures.
Here’s what caused the price of cocoa futures to rise and then fall — and why that may not be reflected in the prices customers are paying.
Cocoa, climate and cost
Cocoa prices more than doubled in 2024 due to insufficient rainfall and crop diseases in West Africa, which supplies more than 70% of the world’s cocoa. Cocoa, which is made from the dried beans
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