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Rising price is bitter news for chocolate lovers

Higher demand and bad weather have conspired to raise the price of the major ingredient of a chocolate bar. So expect the cost to climb, especially for the good stuff.

By MSN Money Partner Oct 15, 2013 12:43PM

This post comes from Brandon Ballenger at partner site Money Talks News.

Money Talks News on MSN MoneyExpect chocolate prices -- especially on the high-end stuff -- to go up soon.

Rising demand in India along with bad weather for cocoa crops in Ivory Coast, Ghana and Indonesia are driving costs up, CNNMoney says. The price of cocoa butter, which is used to make chocolate, is at a four-year high, and it's up 70% in just the past year.

Chocolate © image100/CorbisThe cost of making the average milk chocolate bar is up 25% in the past year, too, according to British trade magazine The Grocer. But retail prices in the U.S. have risen by only 7%, CNNMoney says, because the big chocolate makers want to avoid pricing consumers out of their cravings.

If you like higher-quality dark chocolate, you'll probably see prices going up much more.

"Those are made by smaller manufacturers and they're less able to absorb extra costs compared to the bigger manufacturers," Peter Greweling, a professor of baking and pastry arts at the Culinary Institute of America, told CNNMoney.

What's a chocolate lover to do? Forbes contributor Doug Bandow proposes we create a Department of Chocolate and a chocolate welfare program to manage the "global chocolate crisis."

If you want a unilateral solution, however, maybe wait until Nov. 1 and then stuff your freezer full of all the discounted Halloween leftovers. After all, as I write this, we don't even have a functioning government. (Just thinking about it makes me want some chocolate.)

More on Money Talks News:

Oct 15, 2013 2:36PM
and there is always a gas shortage just before vacation time or thanksgiving. isn't it amazing.
Oct 15, 2013 3:57PM

We are being told that dark chocolate is good for us, so as soon as we start buying it they raise the price.

Par for the course. We all know for less than $5.00 you can easily purchase 3 hamburgers, a side of fries and a soda, from a dollar menu, but try buying healthy fruits and vegetables for the same price.

Oct 15, 2013 4:50PM
Can we declare it a drug and I'll have my Dr. prescribe it.
Oct 15, 2013 1:56PM

What would the world be like without chocolate?

Oct 15, 2013 2:05PM
All prices are rising, dark chocolate is said to be good for you.  People will keep buying chocolate.
Oct 16, 2013 7:34AM
When did we last have a functioning government?
Oct 15, 2013 2:41PM
I enjoy a good chocolate bar on occasion. The rise in cost won't deter me but I also don't buy enough to make it hurt. You get that occasional sweet tooth and you will pay anything to fix it.

Oct 15, 2013 6:15PM
You can't say "dark chocholate"you'll be called racist.
Oct 15, 2013 9:37PM

Outsourcing, yea the Communist Chinese ate our lunch and now they are eating our chocolate!

Bad enough they gave them every living wage job we had now they are stealing our candy!

Oct 15, 2013 5:24PM
Publix & Walmart have decreased their 8oz to 4oz with the same price, I almost sh_t in isle 13:).
Oct 15, 2013 5:05PM
LOL, I don't smoke so I can have a chocolate ....<3 !
Oct 15, 2013 3:48PM
"Rising demand in India".  There are only so many resources in the world and as more people across the globe have more money to buy them and pay top prices those people with less money will see fewer opportunities for cheap prices on desirable products.  Not a difficult concept.
Oct 15, 2013 2:57PM
I bought some unsweetened coco powder last week.  It was only 1.88 Hershey brand.  I remember a few years ago paying 3.50 for the same.
Oct 15, 2013 4:07PM
Sadly, much of the chocolate used by the major candy manufacturers is produced through the use of slave labor; particularly that from the Ivory Coast. So, unless the big 5 candy manufacturers are in need of higher profits, it seems questionable that ingredient costs would go up 70% given long-term contracts and no increase in labor costs.   
Oct 15, 2013 7:19PM

As any true connoisseur of fine chocolate knows, it's not about the sugar, it's about the chocolate. My three favorites are Godiva truffles Rum, Grand Marnier, and Champagne.


Now, that may seem extravagant to some, however, you'll only require one piece and then, you're good 'til tomorrow.

Oct 15, 2013 11:23PM

"...wait until Nov. 1 and then stuff your freezer full of all the discounted Halloween leftovers."

Freeze my chocolate?  No way.  And, why would I want to keep that cheap stuff that's left over from Halloween to begin with?  Does the person who wrote this even eat real chocolate?

Oct 15, 2013 3:01PM
Can't wait for the media to blame the shortage on the evil,mean tea party republicans. And for the low information majority of Americans to buy into it.
i bet wiilie wonka is going to up grade his chocolate factory so he can make some more money so eat chocolate now before the price goes up
Oct 15, 2013 11:22PM
I prefer La Maison du Chocolat and Valrhona so I'm use to paying quality chocolate prices.  If prices rise too much, I will eat less, but I will not switch to inferior chocolate.
Oct 15, 2013 7:39PM
It seems to me that the people posting on here are either very paranoid, or just have very limited understanding of commodities markets.
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