Chocolate Makers Using ‘Skimpflation’ After Cocoa Spike

Global production issues could leave a sour taste in chocolate lovers’ mouths at the checkout with skyrocketing cocoa prices set to reach Australian shores. A global cocoa shortage stemming from disappointing harvests in West Africa is triggering price rises in chocolate, according to a report by agricultural lender Rabobank. “Significantly higher chocolate prices will likely hit shelves over the coming months and going into 2025, providing a major challenge for the chocolate sector, which is already battling a longer-term, structural decline in demand,” the report said. The primary reason is production issues in Ivory Coast and Ghana which account for 70 percent of the world’s cocoa production. ...