Those looking to snap up cheap treats at their local grocery store next week following the Easter long weekend could be in for a bit of a surprise as the rising cost of cocoa continues to drive up the price of chocolate, one expert says.
In the past, consumers have been able to stock up on deeply discounted mini eggs and chocolate bunnies in the days following the holiday as stores look to clear out old inventory. But slashing prices on post-holiday chocolate may be a thing of the past, Sylvain Charlebois, a food distribution and policy professor at Dalhousie University, told CP24.com.
“But it didn't stop there. Since January, cocoa prices have doubled and it reached this week US$10,000 per metric tonne. We've never seen this before.” “Walmart, for example, would guarantee consumers the same price as the year before. They didn't do that this year. They actually increased their eggs by 30 per cent and so that's a sign.”“The famous Cadbury egg is seven grams smaller this year,” he noted. “That upsets a lot of people, shrinkflation.”
“Some people will say, you know what, even though times are tough, I'm buying chocolate for my kids. I'm buying bunnies for my kids… I don’t want to cut back there. I'll sacrifice in other areas in order to make sure my kids have a great Easter.” “We make sure that it's peanut-free and you know that it's individually wrapped so that there's no contamination. So it's not like just kind of going and buying a bag of bulk chocolate somewhere.”
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