Valentine’s Day chocolates more costly this year? Here’s why.
Marina Garcia
COLORADO SPRINGS, Colo. (KRDO) – No price is too high for a loved one, right? After all, it is Valentine’s Day.
But if you were out shopping for a last-minute chocolate set, you may have noticed higher prices and smaller portions.
This is due to a cacao shortage, and local shops say choosing quality over quantity is a balancing act.
You can blame it on the rain and extreme weather in the western parts of Africa, which has caused raw cocoa bean prices to rise, a rise that can be felt thousands of miles away in southern Colorado.
A local business owner says supply problems have eased up after peaking last year, but still, chocolate prices remain elevated.
A holiday like Valentine’s Day is crucial for business, says business owner of Cacao Chemistry, Samantha Lang.
“They say make hay while the sun is shining. That’s what today is,” says Lang.
It’s an issue that has impacted production and costs. However, Lang says they’ve worked hard to ensure consistency.
“Prices are sticky. So they’re going to stay high for a long time. There was a shortage in africa, which led to a lot of it,” says Lang. “We’re trying to, you know, innovate and make sure that we don’t compromise the integrity of our product.”
Lang says you may notice smaller packages, but that’s to avoid using fillers in their chocolate.
“You don’t need a lot of chocolate. You need the right chocolate,” says Lang.
Our news affiliates at ABC News spoke to an analyst who says, given the weather permits it, chocolate prices could fall later this year as manufacturers find cost relief.