Hershey Holds Off on Halloween Candy Prices Amid Cocoa Market Volatility

In a rare piece of good news for candy lovers, The Hershey Co. has announced that it will not raise prices for Halloween candy this year. However, consumers should brace themselves for price increases later this fall, as the chocolate maker cites a volatile cocoa market as a driving force behind the decision.

Price Increases Ahead

Despite holding the line on Halloween pricing, Hershey—famous for iconic products like Reese’s, Whoppers, and barkThins—plans to implement a price hike for U.S. retail products. While specific details are forthcoming, the company indicated that some pack sizes will be reduced, while others will see an increase in list prices, averaging in the low double-digit percentages.

“This change is not related to tariffs or trade policies. It reflects the reality of rising ingredient costs, including the unprecedented cost of cocoa,” Hershey stated in a recent announcement. Notably, the price changes will not affect items sold specifically for the Halloween season.

The Broader Impact on Chocolate Makers

Hershey is not alone in facing these challenges. Swiss chocolatier Lindt reported a staggering 15.8% price increase in the first half of 2023. Although the company managed to partially mitigate the fallout through long-term contracts, they still had to pass significant costs onto consumers.

“The development of the global chocolate market in the first half of 2025 continued to reflect what we witnessed in 2024, with cocoa prices remaining near record highs,” noted Adalbert Lechner, Lindt’s CEO, during a conference call with investors.

Cocoa Prices on the Rise

The global cocoa market has seen prices more than double over the past two years due to adverse weather conditions and diseases affecting crops in West Africa, which supplies over 70% of the world’s cocoa. As of Wednesday, cocoa futures stood at $7,380 per metric ton, significantly lower than December’s peak of $11,984, but still 121% higher than two years ago.

The situation remains precarious, with prices fluctuating due to various factors, including production concerns in nations like Ivory Coast and Ghana. “It’s almost a bit dangerous to comment on this because it’s changing so fast,” remarked Cloetta Chief Financial Officer Frans Ryden during a recent investor call.

Consumer Reaction and Market Trends

As chocolate prices increase, store shelves reflect the ongoing changes. The average unit price of a chocolate bar in the U.S. reached $3.45 as of last week, up from $2.43 in July 2021—a staggering 41% increase. This surge has adversely affected customer demand, with Nielsen reporting a 1.2% decline in unit sales of chocolate over the past year.

Tariffs and Future Considerations

U.S. tariffs could further complicate pricing dynamics. Former President Donald Trump had threatened a 21% tariff on cocoa and other imports from Ivory Coast, although the implementation of this tariff was paused. The National Confectioners Association is actively appealing for exemptions, framing cocoa as crucial for both consumption and export, with nearly $4.4 billion worth of chocolate and cocoa imported into the U.S. yearly.

As the candy industry navigates these complex market conditions, consumers will undoubtedly feel the impact of these chocolate price fluctuations. Stay tuned as more updates unfold in the realm of sweet treats.