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Cocoa prices have tripled over the past 12 months thanks to bean disease in West Africa, which continues to worsen, meaning companies are not expected to get relief anytime soon. Sugar prices are also up some 7%.
That makes seasonal sales key. Easter sales of candy in the United States, the world's biggest chocolate consumer, are expected to at least reach last year's total of about $5.4 billion, although this will be driven mostly by price increases not volumes sold, according to the National Confectioners Association.
Big box store Target and supermarket chain Kroger are also offering bigger discounts on Easter candy this year compared to last, according to the firm. At Target in New York in early March, Reese's mini eggs unwrapped, another new product for this season, and bunnies were buy one, get one for 50%. Chocolate makers have already pushed through price increases,"So this Easter will be more expensive than last year, and there's less consumer appetite to spend," he said."The category will see slower if any growth in the coming year," he said.
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