Valentine's Day Chocolate Prices Surge Amid Global Cocoa Shortage

As cocoa prices hit record highs due to poor weather and crop diseases, consumers face steep costs for Valentine's Day treats.

Cocoa prices have soared nearly 40% since the start of the year, reaching an all-time high due to adverse weather conditions and disease affecting major producing countries.
Despite the price hike, demand for chocolates remains strong, with 92% of Americans planning to share sweets for Valentine's Day.
The global cocoa shortage is the result of three consecutive years of insufficient supply, with no immediate signs of improvement.
Valentine's Day meal staples like lobster tails and beef loins have also seen price increases, further impacting holiday budgets.
Economic indicators suggest the U.S. is avoiding recession, but the Federal Reserve's cautious approach to interest rates adds uncertainty to the market.