Cocoa shortage: Where to buy your favourite chocolates for less as prices surge

If one of your little pleasures in life is that sweet creamy indulgence called chocolate, you may have to make some tough decisions about how to afford this ‘luxury’ over the festive season.

In case you have not yet noticed, prices of this treat – although some may regard it as a necessity, especially in the stressful time we are living – has surged as a worldwide cocoa shortage impacts the chocolate industry.

Ultimately, the shortage is affecting the availability of certain types of chocolates, and their costs, and the longer it continues, the more severe the effects will be.

Some of the key reasons for the cocoa shortage include:

– Extreme rainfall in West Africa that has led to crop damage and outbreaks of disease

– Labour issues in this region – which sees Côte d'Ivoire and Ghana producing about 70 percent of the world’s cocoa

– Climate change which is making traditional cocoa-growing regions less suitable

– Rising global demand that is putting additional strain on the supply chain that is already battling to meet existing demand

As it stands, the cost of cocoa has soared to its highest levels in 44 years, forcing chocolate producers to increase their prices. And while this is not good news for chocoholics at any time of the year, it will probably be more acutely felt in the coming weeks as the festive season is usually a time of extra chocolate indulgence.

To give you an idea of how much you will be paying for some of the most-loved chocolates at this time of the year, IOL has compared prices across some of the major online retailers. This should help you satisfy your sweet tooth, and plan your gifting, at the lowest prices possible*: