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Chocolate Lovers Shrug Off Omicron, Driving Up Cocoa Prices

  • Ingredient to make chocolate in midst of high-demand season
  • Supplies tighten as Ivory Coast sends fewer beans to ports
Updated on

Demand for chocolate is staying strong even as the omicron virus variant sweeps across the globe.

Americans are devouring candy with Christmas season just finished and Valentine’s Day and Easter holidays coming up. Retail chocolate sales are climbing more than 5% a quarter, according to data from Chicago-based researcher IRI. At the same time, there are signs of tightening supplies with top shipper Ivory Coast sending fewer cocoa beans to ports.