Record High Cocoa Prices Threaten Valentine's Day Chocolate Supply

Cocoa prices have surged to an all-time high just before Valentine's Day due to extreme weather in West Africa affecting cocoa harvests for the third consecutive year. Chocolate-makers and sellers have been forced to raise prices to offset the skyrocketing costs of cocoa, with major candy manufacturers like Nestlé and Cadbury signaling potential future price hikes. Despite the price increases, retailers are still expecting higher average spending on chocolates for Valentine's Day, as some shoppers opt for cheaper options or buy less due to the rising costs.