Rising chocolate prices bite as Easter approaches

FILE - Chocolate rabbits wait to be decorated at the Cocoatree chocolate shop, April 8, 2020, in Lonzee, Belgium. Sweet Easter baskets will likely come at a bitter cost this year for consumers as the price of cocoa climbs to record highs. (AP Photo/Virginia Mayo, File) Source: AP / Virginia Mayo/AP

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With the Easter season fast approaching, Australians are being warned that the price of chocolate is rising. That's because the key ingredient used to make it - cocoa - has surged to record levels, trading at more than $15,400 AUD a tonne due to a poor harvest season in Africa.

Chocolate lovers across Australia are feeling the pinch as higher prices have begun hitting the sweet shelves heading into Easter.

New data from RaboBank, the global agribusiness banking company, says the cost of key ingredient cocoa has more than doubled in 2024, causing Australian retail chocolate prices to shoot up 8.8 per cent over last year.