ManitobaCocoa prices are coming down, but Winnipeggers may still be left with a bitter taste when they go go out shopping for treats ahead of the holidays.Drop from historical highs may not be passed on to consumers just yet: professorArturo Chang · CBC News · Posted: Nov 15, 2025 7:00 AM EST | Last Updated: 3 hours agoListen to this articleEstimated 3 minutesThe audio version of this article is generated by text-to-speech, a technology based on artificial intelligence.Chocolate bars on display at a store. The benchmark price for cocoa has come down from historical highs, but it may be a while before consumers see that reflected in the prices they pay for chocolate goodies. (CBC)Cocoa prices are coming down, but Winnipeggers may still be left with a bitter taste when they go go out shopping for treats ahead of the holidays.The benchmark price for cocoa has come down to about $7,510 Cdn per tonne as of Friday, about half the price it was at its peak this past winter after bad weather and disease hurt crops in the region where half of the world’s cocoa is grown.But Sylvain Charlebois, professor and director of Dalhousie University’s Agri-Food Analytics Lab, says it may take a while for Canadians consumers to see that at the local confectionery store.”Many manufacturers, chocolatiers, people who buy chocolate, have negotiated prices that are much higher, so it doesn’t really spare the consumer — at least not yet,” Charlebois said.Local business owners who have had to deal with the historically high prices have been left with no option but to adapt.Alana Fiks of Black Market Provisions said she stopped selling some products at her cafe because of high costs. That includes the “utopia brownie,” a goodie she used to bring back every December.”We would have had to keep the slice the same size and charge $12 a slice,” she said. “We’re just not willing to compromise. So they’ll come back. They just can’t come this year.”Helen Staines, owner of Decadence Chocolates, said she expects a smaller profit this year. (Felisha Adam/CBC)Helen Staines of Decadence Chocolates said she’s expecting smaller profits this year.”There isn’t the margin that there was there before,” she said. “But I can’t fully pass on the price increase. I can’t double my prices. I wouldn’t have any customers then.” J.P. Morgan Global Research analysis from August said the downtrend has been due to the higher prices finally impacting industrial demand. It also expected production to ramp up, though it still predicted prices to hover around $6,000 US per tonne (about $8,400 Cdn) into 2026.Charlebois said prices must remain stable for a while before consumers see a drop. It’s been a rocky road as of late.”I would say that really cocoa futures would need to be low for quite some time, for at least six months because it’s a very volatile market,” he said.WATCH | Cost of chocolate biting Winnipeg retailers:Soaring chocolate prices forcing stores to adjustWinnipeg bakeries and confectionery stores are feeling the pressure of soaring chocolate prices, forcing some to make changes to their menu and leaving others eating costs.With files from Felisha Adam
Oh fudge! Cocoa prices are down, but sweet treats still pricey for holiday shoppers
