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flag Cocoa prices dropped 50% in 2025, but Christmas chocolate prices stayed high due to past pricing and shrinkflation.

flag Cocoa prices halved in 2025, dropping from $12,000 to $6,000 per tonne, yet Christmas chocolate prices remain high due to earlier pricing decisions made when costs were extreme. flag Despite improved harvests in Ghana and Ivory Coast from better farming support and weather, manufacturers like Ferrero, Mars, and Nestlé have maintained high prices through shrinkflation, reduced cocoa content, and rebranding products as “chocolate flavour.” The full benefit of lower cocoa costs may not reach consumers until next year’s holiday season.

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