BBC World Service - Business Daily, Follow the Money: Why Does Chocolate Cost so Much?

The future of cocoa: Why volatility’s here to stay

Cocoa prices have fallen from their 2025 peak, but volatility remains high. Explore how climate change, supply risks and changing production patterns could reshape the future of cocoa.

BBC World Service - Business Daily, Follow the Money: Why does chocolate cost so much?

The El Nino in 2023 had a detrimental impact on the cocoa harvest in West Africa, prices quadrupled and businesses reacted. Chocolate prices skyrocketed around the world, chocolate makers were reducing their cocoa content and in some cases making their products smaller. Since then cocoa prices have come back down, but the cost of chocolate products hasn't followed, Hannah Mullane takes a look at why. Now, the 2026 El Nino threatens to repeat his…

Cocoa prices are climbing again. Here’s why this time is different

Cocoa prices are rising again as El Niño threatens West African supplies. Chocolate makers have few easy fixes to absorb higher costs.

El Nino threatens to send the price of chocolate through the roof

Higher temperatures and disrupted rainfall pose an increasing threat to cocoa crops around the world, with prices already doubling since the start of the year.