Valentine’s chocolate is cheaper this year and we’re so planning on stocking up
Good news for romantics ahead of this year’s Valentine’s Day: A box of chocolate should cost less than usual.
A flourishing cocoa industry throughout Latin America and West Africa has led to the lowest cocoa futures since 2008, allowing candy producers to cut costs, according to Bloomberg.
A bountiful harvest in the chocolate-producing regions, which Bloomberg says accounts for 70% of global production, means that output has increased and prices have dropped.
The booming cocoa returns might be attributed to the industry’s decision to breed a hybrid Cacao tree called CCN51. The strain has a noticeable downgrade in taste, but is resistant to plant-crippling diseases and produces nearly seven times more beans than some traditional Cacao species.
Chocolate will be in demand as usual this Valentine’s Day. A survey from the National Confectioners Association found that 70% of Americans plan on giving chocolate or candy to their special someone. And as long as traders continue to push cocoa prices down, the savings could continue past Feb. 14.
This article originally appeared in Money.
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