As Valentine’s Day approaches, the price of cocoa has never been higher.
The cost of the key ingredient in chocolate has been grinding upward for over two years. In the past year, it has more than doubled. This month, it broke the all-time record from 1977, the year before Hershey introduced Reese’s Pieces.
“Quite honestly, all of our chocolates have increased in price,” says Ginger Park, who has run a chocolate shop named Chocolate Chocolate in Washington, D.C., for 40 years. “We try not to raise the prices on our customers. But, you know, there are times when we have to — we have no choice.”
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