Why does chocolate cost so much this Easter, when cocoa’s price is at a 3-year low?

Consumer group Choice found some chocolate treats, like these Easter eggs, have become smaller and more expensive since last year. Liz Minchin/The Conversation, CC BY

An Easter bunny for $10. A box of 20 hollow Easter eggs for $18. A 100g block of plain dark chocolate for $8.50.

Even last year, such high prices wouldn’t have been surprising. Cocoa prices spiked to all-time highs above US$12,000 per ton in 2024.