I noticed an interesting trend in the cocoa market and everything related to chocolate production. In the U.S., prices for chocolate products have simply skyrocketed — from the beginning of the year to February, the increase was 14.4% year-over-year. In Denver and Los Angeles, the rise reaches up to 17%, and in the Dallas-Fort Worth area, it's as high as 19%. That's a significant jump in such a short period.

The reason is clear — a global shortage of cocoa beans. West Africa accounts for about 70% of the world's production, but the weather there is not favorable; harvests are declining. Previously, this even pushed cocoa futures to historic highs. Interestingly, even if international cocoa prices have recently fallen slightly, chocolate manufacturers in the U.S. are still working with raw materials purchased at old high prices. It turns out that expensive cocoa beans will continue to influence the cost of the final product for a long time.

For chocolate product manufacturers and even for those who make molds for chocolate, this means demand could decrease — consumers won't pay twice as much. On the other hand, chocolate molds and equipment will become more valuable for those who still continue production. It seems the upward trend in chocolate prices will last for some time until the cocoa market normalizes.