How sweet it isn't: Cocoa prices hit record highs ahead of Easter holiday

Chocolate Easter bunnies and eggs will likely come at a higher cost for consumers this year as the price of cocoa climbs to record highs.

Cocoa futures have surged this year, roughly doubling since the start of 2024. Rising temperatures and weather conditions have stressed and damaged crops in West Africa, which produces more than 70% of the global cocoa supply.

Sugar prices are also rising. Futures for a pound of sugar are up about 8% in 2024, after rising 2.7% in 2023.