Chocolate-lovers are facing a hit to their wallets – and a bite out of their favourite bars – due to a fresh surge in cocoa prices triggered by the Iran war.
Analysts at Morgan Stanley bank have warned that cocoa bean prices soared by 23 per cent in March, reversing a reprieve earlier in the year that followed the huge rise in 2024 which forced chocolate makers to raise prices for shoppers.
While the latest rise has yet to feed through to shelves, it is likely to mean shoppers will see higher prices – or smaller package sizes.
Data shows British shoppers paid 9 per cent more for Easter eggs than last year, while a Which? study found widespread evidence of ‘shrinkflation’.
Luxury: Analysts at Morgan Stanley have warned that cocoa bean prices soared by 23 per cent in March
This year a 210g Galaxy egg cost £7 at Tesco. The same egg, weighing 252g, sold for £6 in 2025.
Big brands such as Nestle are even trialling making chocolate without cocoa.
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