"Record High Cocoa Prices Threaten Valentine's Day Chocolate Costs"
Cocoa and sugar prices have surged, leading to the highest Valentine's Day chocolate prices in years due to a cocoa shortage caused by deteriorating weather conditions and disease challenges in major producing countries. Chocolate prices have risen 11% in the past year, and the cost of other Valentine's Day staples like lobster and beef has also increased. Despite the price hikes, there is still strong enthusiasm for chocolate and candies during Valentine's Day, with 92% of Americans surveyed planning to share them.