Aussies To Expect Substantial Increase In Chocolate Prices

Australians have been warned of an impending price hike for chocolate with the price of cocoa and sugar skyrocketing. 

Aussies are being told to stock up on their favourite chocolate with prices set to surge due to bad crops across West Africa. 

The price hike is said to be the worst in 44 years with the price of sugar and cocoa increasing by at least 40 percent. 

The bad crops are believed to have been caused by bad weather across the region. 

While a number of companies have had their chocolate prices locked in for a period of 12 months, the price of that chocolate is expected to rise following the lock period. 

Some companies have already increased the price of their chocolate including Cadbury, who have been forced to hike up the cost of their family blocks. 

“The last few years have been extremely difficult for Aussie food manufacturers and like many, we have experienced significant supply chain challenges and rising commodity and input costs,” a spokesperson said. 

As it stands, the cost of chocolate and other snacks have increased by 11.6 percent across the country over the past year to June. 

Subscribe to The Briefing, Australia’s fastest-growing news podcast on Listnr today. The Briefing serves up the latest news headlines and a deep dive into a topic affecting you. All in under 20 minutes.