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
Police clear pro-Palestinian protesters from Columbia University while clashes break out at UCLA
The pro-Palestinian demonstration that paralyzed Columbia University ended in dramatic fashion, with police carrying riot shields bursting into a building that protesters took over the previous night and making dozens of arrests. On the other side of the country, clashes broke out early Wednesday between duelling groups at the University of California, Los Angeles.
Will an 'out of sight, out of mind' cellphone policy make a difference in Ontario schools?
Ontario’s cellphone ban in schools has been met with mixed reaction, with some teachers concerned about constant policing of kids and experts applauding the change as necessary for student learning.
National strategy must recognize caregivers as 'backbone' of society: centre
Canadians need help looking after family members who are aging, sick or have disabilities, and many caregivers are seniors who need help themselves, says a new report calling for a national strategy that recognizes the mental and financial toll of the job.
WATCH Arnold Schwarzenegger spotted filming in Elora, Ont.
The name of the project has not been officially released although it’s widely believed to be the Netflix series FUBAR.
Lawyers for alleged Winnipeg serial killer point to opinion poll in bid to get jury tossed
The lawyers of an alleged serial killer in Winnipeg are questioning whether pre-trial publicity in the high-profile case may have influenced the jury’s decision-making ability, after a public poll commissioned by the defence found 81 per cent of respondents believe the accused is guilty.
Ontario woman surprised after 20-year-old fines suddenly tank credit score
An Ontario woman says that she was shocked when provincial fines from 20 years ago suddenly tanked her credit score last week, but the situation may not be as unusual as it seems, according to at least debt expert.
Poilievre kicked out of Commons after calling Prime Minister Justin Trudeau 'wacko'
Testy exchanges between the prime minister and his chief opponent ended with the Opposition leader and one of his MPs being ejected from the House of Commons on Tuesday -- and the rest of Conservative caucus walking out of the chamber in protest.
WATCH Moose strolls through Fredericton
A Fredericton woman is awe-struck after seeing a moose stroll down a city street on Tuesday.
Baby, grandparents among 4 people killed in wrong-way police chase on Ontario's Hwy. 401
A police chase which started with a liquor store robbery in Bowmanville Monday night ended in tragedy some 20 minutes later when a suspect fleeing police entered Highway 401 in the wrong direction and caused a pileup which killed an infant and the child's grandparents, as well as the suspect, investigators say.