Chocolate love has its price on Valentine’s Day as cocoa costs make hearts shudder, not flutter
By RAF CASERT, Associated Press
BRUGES, Belgium (AP) — St. Valentine chocolates always seek to show how deep your love is. This year, it might just also show how deep your pockets are.

With the price of cocoa beans setting unprecedented records on the commodities market, it will certainly turn the gift of love into a bigger financial commitment than it once was. Turns out that if love is reputed to be eternal, a low price for cocoa, the essential ingredient in chocolate, is not.
No beans, no Valentine’s chocolate

“The price increase of cocoa is absolutely spectacular, now for 2, 2½ years,” said Philippe de Sellier, the head of both Leonidas and Belgian chocolate federation Choprabisco. When it stood at less than $2,000 a ton in the summer of 2022, it really took over early last year and peaked at well over $12,000 during the Christmas season and has been hovering around the $10,000 mark since.
“We are seeing unprecedented prices. They haven’t been this high for the last 50 years,” said Bart Van Besien, policy adviser of the Oxfam fair trade group. And the impact can be felt deep in chocolate gourmet country Belgium, where some of its 280 chocolate companies are left with a bleeding heart during Valentine’s week.