'Don't expect any deals:' Expert says stores may not offer steep discounts on post-Easter chocolate

Those looking to snap up cheap treats at their local grocery store next week following the Easter long weekend could be in for a bit of a surprise as the rising cost of cocoa continues to drive up the price of chocolate, one expert says.

In the past, consumers have been able to stock up on deeply discounted mini eggs and chocolate bunnies in the days following the holiday as stores look to clear out old inventory. But slashing prices on post-holiday chocolate may be a thing of the past, Sylvain Charlebois, a food distribution and policy professor at Dalhousie University, told CP24.com.

“Don't expect any deals Easter Monday. I don't think it's going to happen this year,” he said. “I actually do think that prices are only going to continue to rise.”

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Charlebois said in November, the price of cocoa surpassed the previous record of US$4,500 per metric tonne set back in 1977.

“But it didn't stop there. Since January, cocoa prices have doubled and it reached this week US$10,000 per metric tonne. We've never seen this before.”

He said amid a global cocoa shortage, companies such as Nestle and Hershey been trying to get their hands on as much as possible.

“We are seeing higher prices for this year already for Easter. Some chocolate eggs, some chocolate bunnies are more expensive compared to last year,” he said.

“Walmart, for example, would guarantee consumers the same price as the year before. They didn't do that this year. They actually increased their eggs by 30 per cent and so that's a sign.”

He said consumers are seeing higher prices and smaller packages as a result.

“The famous Cadbury egg is seven grams smaller this year,” he noted. “That upsets a lot of people, shrinkflation.”

Retail analyst Bruce Winder said he suspects very few parents will refrain from buying chocolate for their kids this holiday amid higher prices and tighter economic conditions, but he noted more people may look to shop at retailers like Dollarama.

“If you're one of the consumers who's really tightening their belt right now because of interest rates and job uncertainty and layoffs, you're probably going spend a little less this year,” he said.

“Some people will say, you know what, even though times are tough, I'm buying chocolate for my kids. I'm buying bunnies for my kids… I don’t want to cut back there. I'll sacrifice in other areas in order to make sure my kids have a great Easter.”

Angela Macdonald, the president of the Bloor West Village Business Improvement Area (BIA), said unprecedented interest in their annual Easter event, coupled with rising chocolate prices, has meant a 50 per cent increase in their chocolate budget for this year’s Easter egg scavenger hunt on Saturday.

“We know that those prices are going up per item and we definitely know that our line item budget has gone up too,” she said.

“We make sure that it's peanut-free and you know that it's individually wrapped so that there's no contamination. So it's not like just kind of going and buying a bag of bulk chocolate somewhere.”

She said the BIA wants to continue to offer the free family event in future years but adjustments may need to be made to make their dollar go further.

“Typically the Bloor West Village BIA does free family events because we appreciate the support that local families give to local businesses and… we understand the current economic climate,” she said.

“We'll just have to obviously find a way to stretch our budget or pull back in other areas because, you know, it's such a well-loved event and we're known for providing really wonderful family events.”