The Terry's Chocolate Orange on shop shelves this Christmas weighs 12g less than last year, an 8% reduction. This follows a 10% cut in 2016, further shrinking a festive favourite.
Prices have also risen sharply. Data from Assosia shows the full price across major supermarkets increased from £1.24 in December 2022 to about £2.25 today – an 81% rise. Combined with the size reduction, consumers are paying 96% more.
Other Christmas treats like Toblerone and Quality Street have also shrunk. Some snacks are now labelled “chocolate flavour” due to higher palm and shea oil content. Across western Europe, chocolate bar prices have risen over 50% since 2021 and 18% since last year, according to Rabobank analyst Julia Buech.
The cost increases stem from rising prices for cocoa, sugar, milk, packaging, transport, and wages. Mondelez International, owner of Cadbury and Toblerone, cites “significantly higher input costs”. The climate crisis is a key factor: extreme rainfall and drought in Ivory Coast and Ghana, which produce over 60% of the world's cocoa, have led to disease outbreaks and reduced yields.
Cocoa prices hit a record $12,000 a tonne late last year, triple 2023 levels, and remain double those of 2022. Sugar prices peaked in 2023 and remain high in Europe due to threats from aphids and beet moths. The Food & Drink Federation notes additional pressures from a packaging tax, higher national insurance, minimum wage rises, and increased energy and transport costs.
