Shoppers looking to buy classic Valentine's Day chocolates this year may be in for a surprise as prices have surged to an all-time high.
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00:00Shoppers looking to buy classic Valentine's Day chocolates this year may be in for a surprise as prices have surged to an all-time high.
00:08The cost of chocolate has jumped 10 to 20 percent compared to last year, driven by a dramatic rise in cocoa prices.
00:15Since the start of 2024, the price of cocoa has more than doubled, reaching a record-breaking $12,646 per metric ton in December.
00:26The spike in prices comes amid ongoing challenges in the key cocoa-producing region of West Africa,
00:32including years of adverse weather conditions and the spread of a virus, which has severely impacted production.
00:39For those looking to avoid the steep price hike, experts suggest opting for chocolate made with cocoa powder, which may offer a more affordable alternative.