The extent of supply issues for a key ingredient means that prices are unlikely to return soon to the levels chocolate makers and consumers have been accustomed to paying, analysts say.

Rising cocoa prices, driven by climate change, are reshaping Valentine’s Day chocolates. Extreme heat and erratic rainfall in West Africa are reducing cocoa yields, leading to higher costs and recipe changes.

Valentine’s Day 2025 sees a 512% surge in chocolate sales, despite soaring cocoa prices and supply chain challenges. Discover how brands are adapting to market volatility.