dpa | Good news for chocolate fans: Because more cocoa has been harvested, prices in shops have fallen slightly again, at least in some cases. “The harvests in Ivory Coast and Ghana are significantly higher, export volumes are higher and purchasing prices have fallen accordingly,” says Finn Ole Semrau, trade expert at the Kiel Institute for the World Economy.
The major German food retailers recently reduced the sales prices of numerous own-brand products for the first time in a long time. For example, a bar of whole milk chocolate now costs 89 cents, one with whole hazelnuts costs 1.29 euros – each 10 cents less than before. Other items also became cheaper.
Raw cocoa prices on the raw material exchanges have recently fallen significantly. The daily price determined by the International Cocoa Organization (ICCO) was just under 3,500 euros per ton at the end of last week. According to Semrau, it is at the same level as before the crisis. However, he does not believe that consumer prices could return to their previous levels.
In recent years, chocolate has become significantly more expensive. The reason is increased raw material costs. In 2024, the ICCO daily price per ton temporarily rose to well over 10,000 euros. The background was feared crop failures in West Africa due to plant diseases and extreme weather. As a result, consumer prices rose sharply. According to the Federal Statistical Office, a chocolate bar in December cost on average 69 percent more than in 2020, bars or other chocolate products almost 72 percent. The increase was particularly strong for retail chains’ own brands, which have now been reduced. According to the comparison app Smhaggle, the price for a bar of whole milk rose from 49 to 99 cents between 2022 and 2025.
Consumers “a bit spoiled”
Consumers have been reaching for chocolate less recently. According to a YouGov survey, one in two people (52 percent) buy significantly or slightly less than two years ago, 39 percent buy about the same amount, only 5 percent more. The manufacturers also feel this. According to the market research company NIQ, the number of packs sold in 2025 fell by 5.8 percent compared to the previous year, and for Christmas chocolate by as much as 12 percent. Consumers were more likely to purchase special offers and store brands.
Brand manufacturers therefore sometimes recorded losses. Ritter Sport was in the red last year despite higher sales. The higher prices led to enormous declines in sales, especially in Germany. This is also because consumers are “a bit spoiled,” the company writes in its blog. Germany has long been one of the industrialized countries with the cheapest food. It is said that the selling prices often do not reflect the actual costs. Ritter Sport also points to higher spending on packaging, logistics and energy.
Will Milka and Lindt chocolate become cheaper again?
The latest price reductions so far only affect private labels from discounters and supermarkets. Retailers are currently passing on purchasing advantages directly to consumers, says Philipp Hennerkes, Managing Director of the Federal Association of the German Food Trade. Economist Semrau expects other providers to follow suit and also reduce prices. “Some market participants have increased prices more than the admittedly difficult market situation warrants.”
It is still unclear whether branded products will also become cheaper. When asked, the chocolate manufacturer Lindt & Sprüngli said it was currently unable to lower prices. Cocoa is purchased over the long term and prices are above the level of previous years. Ritter Sport and Mondelez (Milka) did not comment. Mondelez not only increased prices last year, but also reduced the package contents of several Milka varieties.
In countries such as Ghana and Ivory Coast, government authorities set the purchase price for raw cocoa before the harvest. On this basis, futures transactions are concluded on the stock exchanges. The stock market price forms a basis for the global cocoa price. Only a portion of global stocks are traded directly on the stock exchange. Price changes usually have a delayed impact on consumers.