This Halloween, consumers will face higher prices for Hershey and Mars candy bars due to soaring cocoa costs, which have doubled in 2024 and are expected to stay elevated until at least September 2025. The Agri-Food Institute reported that adverse weather in West Africa has led to reduced cocoa production, with stocks at their lowest in 50 years. As a result, mass-market chocolate producers are pivoting to non-chocolate candies and reducing chocolate content in their products. Shoppers may also notice smaller candy bag sizes at unchanged prices, a phenomenon termed “shrinkflation.”

Source: https://www.supplychaindive.com/news/candy-cocoa-chocolate-wells-fargo-expensive-halloween-2024-prices-cost-shrinkflation-inflation-crop/730708/