Your Easter candy is still expensive — even with cheaper cocoa

Cocoa prices have dropped from over $12,000 per metric ton in late 2024 to $3,000–$3,300 today, but chocolate makers including Hershey and Mondelez are keeping Easter candy prices elevated at roughly 14% above last year. Major chocolate companies raised prices up to 20% during the 2024-2025 cocoa spike and are protecting margins while working through higher-cost supplies locked in earlier, according to a Wells Fargo Agri-Food Institute report. The average Easter basket now costs 71% more than five years ago, with three-quarters of that driven by candy, even as consumers are expected to spend a record $24.9 billion on Easter this year. Chocolate makers remain hedged above current cocoa prices, limiting how quickly they can pass savings to consumers. Wells Fargo's David Branch said price relief may arrive later in 2026, "hopefully in time for Halloween," as global cocoa supply is expected to improve.