If you’re looking for the cheapest candy this Halloween, your candy bowl may look a little different this year. That's because the one thing you might notice when shopping is higher prices, especially on chocolate items.
Paul Picton is a chocolatier who specializes in high-end confections at his store Maverick Chocolate Company. But this past year, he has been dealing with a sharp jump in prices of his main ingredient: cocoa.
"The price of cocoa beans at the commodity levels, from the farms, has skyrocketed," he said.
This modern-day Willie Wonka says he won't skimp on ingredients, but some companies are cutting quality or sizes. They start to put in less chocolate or move away from dark chocolate to milk chocolate, he said, something he insists he won't do.
Lower cocoa production means higher prices
According to a Wells Fargo report, global cocoa production is projected to fall by about 14%. The reduced supply means shoppers can expect to pay more for chocolate candy in 2024, and possibly 2025.
The company Pattern, which looks at average prices on Amazon, found prices dropped year over year for sweets like Starburst, Jolly Ranchers, and Smarties. But Twix, which contains a large amount of chocolate, is up 4%.
The site Coupon Follow found 3 Musketeers are the most expensive Halloween candy at 79 cents an ounce. It claims Skittles are the cheapest at 32 cents an ounce.
How to save on your candy
For savings, shopping expert Trae Bodge suggests buying in bulk.
“If you live in a place where there is a lot of Halloween traffic, go big. You will save a lot by doing that,” she said.
She says to buy some of your favorites but supplement with something less expensive.
And if you’re not picky, wait until the day before Halloween when prices drop.
“Dollar stores will have a lot of candy as well and they will be cheaper than everyone else for the most part," she said.
Picton says you should try to be understanding if prices seem a little higher this year.
"Everyone is still trying to provide a product, and to be able to do so in a reasonable manner," he said.
That way you don't waste your money.
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