Chocolate prices could rise amid dwindling cocoa bean supply

Chocolate prices could rise amid dwindling cocoa bean supply


TYLER (KYTX) - Just before Halloween, Christmas and mass candy buying, chocolate prices may be on the rise. CBS 19's Katiera Winfrey found out what's behind the possible price increase and if the change will affect chocolate lovers the ability to feed their sweet tooth.

Pumpkins, turkeys and skulls signal the approaching Fall season at Tyler Chocolate store Sweet Gourmet.

"Honey are you kidding me, I'm a chocoholic freak," said shopper Marlena Saballa.

She said Fall is her favorite holiday, and chocolate fits perfectly into the mood of the season, but she and chocolate lovers all over the country could soon see the cost of this sweet treat skyrocket.

Bloomberg reports, for the second year in a row, chocolate sales have surpassed cocoa bean production. A shortage of 119,000 tons in a year.

Research estimates those numbers will continue to be uneven. In fact chocolate sales volume will rise 6.2 percent to a record $117 billion next year.

"We really haven't seen big increases...we try to absorb as much a we can," said Sweet Gourmet manager John Abler.

He said that's because Tyler is smaller and in previous years they haven't seen any huge impact. He said the increase in cocoa bean cost shouldn't have a substantial effect on price, and that market place will play a bigger role in costs.

Markets that are larger like Dallas could be the cities to look for increased costs. Even so, Abler doesn't expect that to keep chocolate lovers away.
"Even if the price does get to be pretty high and outrages, its gonna be one of those recession proof things people are always gonna want a little bit of something." 



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