Chocolate makers return to cocoa as global prices slump
Major confectionery companies like Hershey are restoring cocoa content to their products following a significant drop in bean prices from record highs. This shift marks a reversal of cost-cutting measures and is expected to drive a recovery in global cocoa demand through the second half of the year.
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Hershey will return its core recipes to original cocoa levels following a 70% drop in bean prices from 2024 peaks. The move reverses a year of "chocolate candy" reformulations that used vegetable fats and fillers to offset record input costs. Cocoa prices nearly tripled to above $12,000 a metric ton in 2024 due to adverse weather and disease, prompting chocolate makers to shrink bar sizes, add wafers and nuts, and introduce alternatives.
