What to know about skyrocketing chocolate prices as we head into holidays

DANVILLE, Calif. (KGO) -- Expect continued high prices for some chocolate treats this Halloween season as the price of cocoa has more than doubled since the beginning of the year. Local chocolatiers are trying to keep prices stable - at least for now.

Jacqui Amayo owns Danville Chocolates, a fixture in downtown Danville for 15 years. While the prices for sugar and dairy have gone up, chocolate prices are expected to skyrocket up another 30% going into 2025.

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"The labor's expensive and we like keeping the cost down but if the prices go up obviously our prices have to go up," said Amayo.

Experts say 75% of the world's cocoa supply comes from West Africa, which has had three consecutive years of bad crops including too much rain and root rot followed by drought.

"Since January 2024 it's gone up 100% in price. And since July 2022 it's up 230% in what the US dollar price of cocoa beans are," said David Branch, an analyst with the Wells Fargo Agri-Food Institute.

So prices are just starting to get passed onto consumers.

The Agri-Food institute says manufacturers are also starting to repackage products and substitute ingredients as buyers get spooked.

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"As the price of chocolate goes up people are buying less," said Branch.

Instead some consumers are substituting less expensive sugary treats and gummies for chocolate as the market heads into the lucrative holiday season.