Will Hershey's Recent Price Hikes Hurt Your Pockets This Halloween?

Global chocolate supply has been in trouble for years due largely to climate, as extreme weather and ensuing crop disease wreak havoc on West African cocoa farms and affect their supply. As a result, chocolate prices are soaring: CNBC reported that one metric ton of chocolate cost $2,374 in 2022; in January 2025, the same amount was $8,177 and only decreased to $7,855 last month.

To contend with rising cocoa prices, The Hershey Company announced at the end of July that it was increasing prices on full-size and king-size versions of some of its products, like Reese's and Kit Kat. Though Hershey didn't give an exact figure, retail prices are certain to increase. For example, Sheetz convenience store is raising prices on the affected candy bars by 26%, with those changes hitting consumers on September 17. 

As a spokesperson for the chocolate company said in a statement (via PennLive), "We're committed to delivering the treats consumers love while continuing to invest in making our products and experiences even better. To support our approach, we're making a price adjustment with our retail customers."

However, the company is adamant the price increase won't apply to bite-sized, Halloween-specific candy. Hershey is, in fact, mostly absorbing the cocoa price hike — about ¾ of its products will still be less than $4 each. The same might not be able to be said for other chocolate corporations like the Swiss chocolate company Lindt, which raised its prices by 15.8% in the first half of 2025.

More than five million tons of cocoa beans are farmed and processed across the world every year, and Africa is responsible for 71% of that amount. Ghana and Côte d'Ivoire are the two highest cocoa producers, accounting for 50% of the global supply. Climate change, however, has hurt cocoa farming in the region through a combination of high temperatures and wet conditions. Cacao trees, which produce the raw form of cocoa beans, grow best in temperatures around 89 degrees Fahrenheit, but climate data from the past decade has shown that ⅔ of that area has seen temperatures exceeding that limit each year. High heat causes cacao flower loss and smaller bean pods that rot quickly.

Rainfall also impacts cacao tree growth. The plants thrive when rainfall amounts average between 60 to 80 inches per year and dry spells last no longer than three months, but rainfall was up by 40% in certain areas during 2024, causing floods that can damage crops. December of that year also saw less rainfall than normal, which prevents beans from maturing. As a result, harvests for 2025 were lower than usual, which helped to spike prices; bad weather like this was also the not-so-sweet reason Valentine's Day chocolates were pricey this year.

Adding to the problems were diseases like swollen shoot virus, which endangered cocoa production in Ghana in 2024 by affecting more than 30% of cocoa producers in that country. The virus hampers the growth of cacao trees, and if left untreated, can completely wipe out crops in a half-decade. Wet conditions also cause black pod, a fungal condition that destroys beans as they grow. In the face of so much turmoil, Hershey's price reduction may seem like a small gesture, but it may still contribute to a happier Halloween.