SHELLING OUT Easter eggs shrunk in size AND hiked in price as cost of cocoa hits 40-year high

Published on The Sun

CHOCOLATE manufacturers are shrinking Easter eggs and hiking prices — because the cost of cocoa has hit a 40-year high.

Storms and disease have clobbered crops in Ghana and the Ivory Coast in West Africa and experts predict the problem will get worse.

Record prices will kick in when manufacturers run out of last year’s cocoa supplies meaning Brits will pay more even as food inflation falls.

According to data for The Sun by market researchers Assosia, a 220g Kinder Surprise Giant Egg is now £13.13 — a 16.7 per cent jump on last year’s £11.25, and a 215g Lindt Lindor milk chocolate egg is £9.50 — 22.5 per cent up on £7.75.

The prices of Thorntons, Ferrero Rocher and Maltesers eggs have also gone up.

A Cadbury Dairy Milk Easter Egg, meanwhile, has shrunk from 286g to 245g, according to the analysis at major supermarket chains.

On the financial markets, cocoa was £5,258 a tonne in February, yet £2,093 in 2023.

The International Cocoa Organisation forecasts a 10.9 per cent fall in production for 2024 and a global deficit.

Cadbury owner Mondelez International said it was facing significantly higher input costs, notably for ingredients such as cocoa and sugar, so products were “much more expensive to make”.

It said: “As a result, we’ve made some carefully considered cost price increases across our Easter range.”

Analysts said some firms were trying to lower costs by filling eggs and bars with nuts, caramel or other flavours to reduce cocoa levels.

Published on The Sun, 4th March 2024.

https://www.thesun.co.uk/money/26366469/easter-egg-prices-rise-size-shrink/?utm_source=sharebar_app&utm_medium=sharebar_app&utm_campaign=sharebar_app_article