CLEVELAND (WJW) — This Halloween, candy prices are giving some shoppers a scare — especially chocolate, which is creeping to new highs.
“The cocoa prices are skyrocketing, and it’s the primary component for chocolate,” mentioned Tom Scheiman, CEO of B.A. Sweetie Candy Co. located on Brookpark Road in Cleveland.
Scheiman said even giant wholesalers like Sweeties that offer one of the largest varieties of candy in the world are feeling the pinch.
“The price hikes for chocolate bars are quite significant. This year, we are observing around a 20% increase in our chocolate pricing,” he stated. “For instance, this KitKat bag is now $8.99, whereas last year it was $6.99.”
There are a number of factors causing the high prices, including a volatile cocoa market, supply chain issues, deforestation and some tariffs.
The major challenge has been the substantial rains over the recent years, which have devastated a significant portion of the crops in West Africa, the region responsible for producing most of the world’s cocoa.
“It’s poor crops, it’s adverse weather. I hear every explanation out there, and I believe them,” said Scheiman. “Also, West Africa uses quite outdated methods, and the leading chocolate producers are attempting to cooperate with these farmers to make them more efficient, yet it’s still going to take many years.”
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Some companies are attempting to assist. The Hershey Co. announced it would not increase Halloween candy prices. To avail of the lowest price, consumers should opt for the Halloween-themed packages.
“The fact that prices are increasing doesn’t really shock me. It seems like everything is, and you just find ways to deal with it,” said Tara Russell, who traveled from Michigan to shop at Sweeties.
Fortunately, Scheiman says there are so many varieties of candy right now that even with the price hike, there is something for everyone’s budget.
“It is absolutely affordable,” he said, “And what we see is they still want it, but they want to get something a little bit smaller.”
