Easter egg prices have skyrocketed by as much as 50%, with some treats shrinking in size but still commanding higher prices, as the global price of cocoa reaches a record high due to unusually dry weather in West Africa.
The cost of Easter eggs has increased significantly, with some treats shrinking in size but still commanding higher prices.
The Great Shrinkflation
Shrinkflation is a phenomenon where products get smaller but the price remains unchanged or even increases. This trend is evident in several Easter egg brands, including ‘Terry’s chocolate orange mini eggs’ and ‘Twix white chocolate Easter eggs’.
How Big Are They Now?
At Lidl, an 80g pouch of ‘Terry’s chocolate orange mini eggs’ originally cost 99p, but now costs £1.35 – a rise of 56%. Meanwhile, at Tesco, a ‘Twix white chocolate Easter egg’ had increased from £5 to £6 year-on-year, while also shrinking from 316g to 258g.
The Rise in Cocoa Prices
The global price of cocoa has risen sharply since 2022, reaching a record high in January this year. This is largely due to unusually dry weather in West Africa, one of the world’s main cocoa-producing areas.
Cacao trees are native to Central and South America, with evidence suggesting they were first domesticated over 3,000 years ago.
The ancient 'They prized cocoa for its flavor and medicinal properties' Mayans and Aztecs prized cocoa for its flavor and medicinal properties, using it as a form of currency and in rituals.
Spanish conquistador 'Hernán Cortés introduced cocoa to Europe' Hernán Cortés introduced cocoa to Europe in the 16th century, where it became popular among the wealthy.
Today, 'cocoa is grown in over 70 countries worldwide' cocoa is grown in over 70 countries worldwide.
A Price Hike of Up to 73%
At Asda, an 200g bag of ‘Fruit & Nut Milk Chocolate‘ rose from £1.33 to £2.30 – a hike of 73%. Similarly, at Ocado, a 110g bag of ‘Nomo Creamy Choc Buttons’ increased in price by 63%.
What Can Consumers Do?
Despite the rising prices and shrinkflation, Which? money and retail editor Reena Sewraz suggests that consumers can still get good value Easter eggs. She recommends looking for special offers, comparing the price per gram, or holding out until Easter Sunday when many of the eggs are likely to be reduced.
Quality and Value
Confectionary companies insist they are trying to maintain both quality and value with the changes. However, some argue that the increased prices are unsustainable in the long term.
