Cocoa shortage raising the cost of Easter treats this year
With Easter just around the corner, Canadians are feeling the pinch as the cost of traditional holiday treats, particularly chocolate, continues to climb.
- Sign up now for our daily CTV News Ottawa newsletters
- The information you need to know, sent directly to you: Download the CTV News App
Since November, cocoa prices have reached record highs, escalating from $3,000 to $10,000 for a metric ton. The spike is attributed to production challenges in key cocoa-producing regions such as the Ivory Coast and Ghana.
"The prices are ridiculous. Totally ridiculous," said Peggy Blackwell, a recent shopper preparing for Easter, who expressed frustration at the soaring prices.
The price surge in chocolate products has been significant in recent months, causing concern for consumers like Blackwell.
"Look at the size of this. It was six bucks, and it's minuscule," she said.
Sylvain Charlebois, from the Agri-Food Analytics Lab at Dalhousie University, noted the impacts on consumer goods.
"Cadbury Mini Eggs are the same price as last year, but they're six grams less. They are smaller," Charlebois said.
As chocolate manufacturers grapple with rising costs, they are exploring various strategies to maintain profitability.
"You'll see some shrinkflation going on, so less for the same price or some skimpflation and they may decide to get rid of cocoa and put in an artificial flavor of some sort," Charlebois said.
A comparison between two major retailers, Loblaw and Walmart, found that prices for Easter essentials varied significantly.
Despite discounts offered by loyalty programs, such as PC Optimum at Loblaw, Walmart emerged as the more budget-friendly option.
For a chocolate bunny, a 5 kg ham and a bag of Cadbury Mini Eggs, the bill at Walmart was more than $14 cheaper than Loblaw for the same three items.
Nadia Petti, another shopper, emphasized the importance of finding deals and navigating the increased costs.
"You can always get a good deal," she said, highlighting the value of savvy shopping strategies like using flyers.
Despite the financial strain, many consumers view chocolate as an essential part of Easter celebrations, purchasing the treats regardless of price increases.
"You still have to do what you have to do, and you have to buy what you need. And that's pretty much it," said Petti.
CTVNews.ca Top Stories
Ontario to ban use of cellphones in school classrooms starting in September
Ontario is introducing a suite of measures that will crack down on cellphone use and vaping in schools.
BREAKING Quebec to invest $603 million to protect the French language
Quebec will invest $603 million over five years to counter the decline of French in the province, French Language Minister Jean-Francois Roberge announced Sunday.
'Do not consume': Gift Chocolate recalled due to undeclared milk, soy
The Canadian Food Inspection Agency has issued a recall for a specific chocolate brand sold in Ontario and Quebec.
Kitchener family says their 10-year-old needs life-saving drug that cost $600,000
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
Invasive and toxic hammerhead worms make themselves at home in Ontario
Ontario is now home to an invasive and toxic worm species that can grow up to three feet long and can be dangerous to small animals and pets.
Murder charge laid after man falls to death from Toronto apartment balcony
One person has been charged with second-degree murder in connection with the death of a man who fell from a balcony following an altercation inside a Toronto apartment building.
Dozens in Italy give a fascist salute on the anniversary of Mussolini's execution
Dozens of people raised their arms in the fascist salute and shouted a fascist chant during ceremonies Sunday to honor Italian dictator Benito Mussolini on the 79th anniversary of his execution.
Zendaya tennis movie ‘Challengers’ scores at weekend box office
Zendaya and castmates Mike Faist and Josh O’Connor have been on a globetrotting press tour to get the word out about Italian director Luca Guadagnino's original film, which opened in 3,477 locations in the U.S. and Canada.
Nicole Kidman, who 'makes movies better,' gets AFI Life Achievement Award
Morgan Freeman spoke the words, but pretty much everyone who took the stage at the presentation of the AFI Life Achievement Award agreed: "Nicole Kidman. She makes movies better."