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This Halloween, trick-or-treaters might see much less chocolate in their bags than last year. Blame inflation and the rising cost of cocoa beans.
The price per ton has more than tripled since 2020, according to the International Cocoa Organization. Mass producers of chocolate like Hershey’s, Lindt and Nestle have increased their prices to offset these rising costs.
“This change is not related to tariffs or trade policies. It reflects the reality of rising ingredient costs including the unprecedented cost of cocoa,” Hershey said in a statement.
Chocolate makers in Philadelphia say that holidays are a great time for their businesses. Confectioners in the heart of the city’s historic districts are now planning themed treats for the nation’s 250th birthday celebration in July 2026, all while navigating the sticker shock on cocoa.
Tony Walter, president of Lore’s Chocolates in Center City, said the industry is being affected by a variety of factors, ranging from freight and insurance costs to “the cost of doing business in the city of Philadelphia.”
“Many of the commodities that we use as well, whether it be sugar, cocoa, just milk, it’s all increased,” said Tony Walter, president of Lore’s Chocolates.
Lore’s Chocolates is making chocolate bars with the 250th logo to celebrate the U.S. semiquincentennial and the FIFA World Cup in Philadelphia in 2026. (Kimberly Paynter/WHYY)
The Walter family has been operating the company since 1987. Their retail store, located a block away from the Liberty Bell, specializes in gourmet candies, many inspired by Philadelphia. He said he is not worried.
“After all of these years in the industry, I don’t think people will eat less chocolate. They’re going to eat more of the better chocolate and I think that bodes well for us. I hope it does, in that people will appreciate quality,” he said.