Halloween Sweet Treats Get Sour: Trump's Tariffs and Climate Change to Blame
This Halloween season, trick-or-treaters might be surprised by the higher prices of their favorite candies, courtesy of President Donald Trump's tariffs and climate change. According to a recent analysis by progressive groups The Century Foundation and the Groundwork Collaborative, candy prices are expected to rise by 10.8% this year, with some popular chocolate-based treats facing price increases of up to 20%.
The culprit behind these price hikes is the ongoing cocoa shortage, which has caused the price of cocoa beans to triple in recent years. Climate-related rain and damage to cocoa crops in West Africa have pushed prices as high as $12,000 per ton in 2024, although they've since dropped to around $6,000 per ton. This means that chocolate manufacturers like Hershey's will face significant costs and may be forced to raise prices.
Hershey's has already acknowledged the impact of tariffs on its business, stating that it could cost over $100 million and lead to price increases. The company is asking the Trump administration for a tariff exemption for cocoa, but it remains to be seen whether this request will be granted.
The challenge facing chocolate manufacturers lies in finding alternative sources of cocoa beans, as the only two US places capable of producing them are Hawaii and Puerto Rico – tiny quantities that can't meet demand. As a result, companies may opt for "shrinkflation," reformulating products with less cocoa or replacing it with other ingredients like almonds or milk.
Despite these challenges, consumers are expected to continue shelling out for their Halloween treats, with total sales estimated to reach $13.1 billion and candy sales accounting for 18% of confectionery retail sales in 2024.
"It's a constant reminder that economics touches everything in our lives," said Alex Villacis, a food economist at Ohio State University. "Chocolate producers have two options: they can either pass on the costs to consumers or absorb them as a loss."
This Halloween season, trick-or-treaters might be surprised by the higher prices of their favorite candies, courtesy of President Donald Trump's tariffs and climate change. According to a recent analysis by progressive groups The Century Foundation and the Groundwork Collaborative, candy prices are expected to rise by 10.8% this year, with some popular chocolate-based treats facing price increases of up to 20%.
The culprit behind these price hikes is the ongoing cocoa shortage, which has caused the price of cocoa beans to triple in recent years. Climate-related rain and damage to cocoa crops in West Africa have pushed prices as high as $12,000 per ton in 2024, although they've since dropped to around $6,000 per ton. This means that chocolate manufacturers like Hershey's will face significant costs and may be forced to raise prices.
Hershey's has already acknowledged the impact of tariffs on its business, stating that it could cost over $100 million and lead to price increases. The company is asking the Trump administration for a tariff exemption for cocoa, but it remains to be seen whether this request will be granted.
The challenge facing chocolate manufacturers lies in finding alternative sources of cocoa beans, as the only two US places capable of producing them are Hawaii and Puerto Rico – tiny quantities that can't meet demand. As a result, companies may opt for "shrinkflation," reformulating products with less cocoa or replacing it with other ingredients like almonds or milk.
Despite these challenges, consumers are expected to continue shelling out for their Halloween treats, with total sales estimated to reach $13.1 billion and candy sales accounting for 18% of confectionery retail sales in 2024.
"It's a constant reminder that economics touches everything in our lives," said Alex Villacis, a food economist at Ohio State University. "Chocolate producers have two options: they can either pass on the costs to consumers or absorb them as a loss."
I'm not buying this whole "climate change and tariffs" thing. I mean, come on, 10.8% price hike? That's a pretty big jump for Halloween treats 
. And what's with the "constant reminder that economics touches everything in our lives" quote? Sounds like someone's just trying to sound fancy 
. Can we get some actual data or sources here? Like, where did this 10.8% number come from? I'm not convinced it's that simple... 
Trump's tariffs and climate change are causing a major cocoa shortage, leading to price hikes of up to 20% 
. That's like triple the normal cost!
). Chocolate manufacturers are already feeling the pinch, and they're trying to find ways to cut costs without sacrificing taste 
.
. So, be prepared for "shrinkflation" - think less chocolate, more almonds or milk 
.
. I mean, think about it - cocoa beans are basically responsible for 70% of the world's chocolate production 
, so when there's a shortage, you can bet prices will go up 
! So when you consider that Hershey's is asking for a tariff exemption, it's actually not surprising that they'd want to find alternative sources... or just raise prices 
. And who knows, maybe chocolate companies will find new ways to make their treats even better (or at least less expensive) 
I mean, I'm not surprised prices are gonna be higher, but 10.8% is a lot for a bunch of sugar and chocolate. And $12,000 per ton for cocoa beans? That's insane! 
I don't think Hershey's can just absorb all those costs without passing them on to us.
It's just gonna be a weird Halloween this year. Guess we'll have to shell out more cash for our trick-or-treats... again! 
, I'm already dreading Halloween this year... those adorable little monsters are gonna be super disappointed when they don't get their fave candies for cheap anymore 
? I mean, Hershey's is already losing a ton of money... what's gonna happen next? Are we gonna see more "shrinkflation" and less chocolate altogether? 
. I mean, who doesn't love a good Reese's Peanut Butter Cup, but now they're gonna cost more? And it's not like chocolate manufacturers can just magic up cocoa beans from thin air... or can they? 
Seriously though, the impact on small businesses and consumers is real 
That just seems like a recipe for disaster... or should I say, a sour treat 
. Can't we just invest in sustainable farming practices or something instead of nickel-and-diming our way through life? 
I had a friend from Hawaii who was trying 2 start a cocoa farm and she said the prices were already too low 2 make it worth it 
messing with my Halloween candy haul this year! Prices are already going to be up 10.8%? That's like, whoa 
I mean what even is the point of trying to make a buck when you're just gonna hurt innocent trick-or-treaters' pockets? 
.
. Oh well, at least our sales will still be good, $13.1 billion is pretty sweet