High prices could change chocolate-eating habits
For many Australians, chocolate is a non-negotiable mood lifter, especially during hard times.
But over the past few years, as grocery prices have continued to rise, those feeding a chocolate habit have been paying more at the check-out.
Chocolate prices have climbed, driven by an escalating cocoa price.
Associate Professor of supply chain management at Edith Cowan University, Flavio Macau, has looked at the rising cost of a 180-gram block of Cadbury Dairy Milk Chocolate.
The price of a Cadbury Dairy Milk Chocolate block has increased. (ABC News: Ebony ten Broeke)
In May 2024, a block cost $6 at both major supermarkets, Woolworths and Coles.
In May 2025, it was $8.
While the blocks go on special from time to time, the price of a block has remained at $8 at the major supermarkets this year.
"I don't think we're going to see any time soon chocolate pricing going back to what it was a couple of years ago," Rabobank senior analyst Michael Harvey said.
Michael Harvey says he doesn't expect chocolate prices to return to where they were two years ago "any time soon". (Supplied: Mick Harvey)
'A very volatile ride'
The cost of cocoa reached an all-time high of $US 12,000 a tonne in 2024.
It peaked again in 2025 before dropping down to around $US 2,600 a tonne in February this year.
The price per tonne has been going up again in recent months.
"It's been a very volatile ride," Mr Harvey said.
The high cost of cocoa has been linked to a combination of weather events and a virus affecting some cocoa crops, creating global supply issues.
As a key ingredient, the high price of cocoa has led to higher chocolate prices.
Cacao beans, which are used to make cocoa, have increased in price. (Supplied: Federation Chocolate)
A spokesperson for Cadbury's parent company, Mondelez, said cocoa prices were still well above pre-crisis levels, and the price of other ingredients and manufacturing had also increased.
"We work hard to absorb these cost increases where possible while ensuring that we can continue to provide the high-quality, great-tasting chocolate," the spokesperson said.
The company spokesperson said it was focused on strengthening the sustainability and resilience of cocoa, "including investing in climate-smart farming, improving productivity and expanding the geographic diversity of supply".
High prices might change chocolate tastes
Helen Curtis and her husband Maurice make chocolate from scratch at their business in historic Richmond in Tasmania's south.
The business buys its cacao beans from eight different countries including Peru, Papua New Guinea and Australia.
"Pre-COVID, cacao bean prices were about $8 a kilo whereas current prices are around $20 a kilo," Ms Curtis said.
Helen Curtis says her business is spending more than double on cacao beans than it was before the COVID pandemic. (Supplied: Federation Chocolate)
She said she had always paid more for beans.
"We have relationships with farmers … you're paying sustainable prices to help support those families."
But the rising cost of beans has meant she has had to put her prices up. She said that had affected sales "a little bit".
Helen Curtis says higher chocolate prices may mean consumers eat less chocolate but buyer higher quality products. (Supplied: Federation Chocolate)
Ms Curtis said higher prices might lead to consumers eating less chocolate but buying better quality, rather than consuming larger amounts of cheaper chocolate with high sugar content.
"When I was little … rather than eating in bulk quantity, we had little bits; we savoured it," she said.
"For us, something chocolate is something to enjoy, something to make life better."
Helen Curtis says chocolate is something to be savoured. (Supplied: Federation Chocolate)
So when will the price of chocolate come down?
There is a risk cocoa prices could rise again.
The declaration of an active El Niño could play havoc with global weather conditions.
Australian Food and Grocery Council chief executive Colm Maguire said "even if cocoa eases further, the overall basket of costs hitting all manufacturers — like energy, packaging and transport — are still high".
"That's exactly why we need to keep working on Australia's competitiveness, making it more affordable to make products Australians love is a win for manufacturers and chocolate lovers," he said.
Colm Maguire says even if the price of cacao eases, other costs remain high for all manufacturers. (Supplied: Colm Maguire)
Protein shakes could be next
Whey, a by-product of cheesemaking, has also been increasing in price.
It is high in protein and has become popular as a supplement to build muscle.
Whey can be found in shakes, as well as a range of other foods like milk, cheese, yoghurt and products promoted as being high in protein.
The booming demand for the product has driven the price hike.
Mr Harvey said it was not easy to ramp up whey production.
"You have to build the plant. You've also got to deal with the cheese as well,"
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