KitKat, Cadbury Egg makers feel pain of record-high cocoa prices

Cocoa prices has even managed to best the dazzling performance of artificial intelligence darling Nvidia, as it even became more expensive than copper

Cocoa costs make up about 10% of Lindt & Spruengli AG’s sales and typically take 6-12 months to filter through due to hedging, including stocks bought at lower prices. Picture: Sam Wasson/Sipa

The sudden and sharp rise in cocoa prices this year is taking a toll on chocolate stocks across the world as investors scramble to assess the impact that confectionery companies could face if costs of the key ingredient remain elevated.

Cocoa futures have more than doubled in 2024 and soared above an unprecedented $10,000 (€9,251) a metric tonne this week. The commodity has even managed to best the dazzling performance of artificial intelligence darling Nvidia Corp, and it even became more expensive than copper.