Why are chocolate makers like Hershey reverting to higher-cocoa recipes after using chocolate alternatives?

Chocolate makers are reverting to higher-cocoa recipes because cocoa futures have slumped nearly 70% from late-2024 record highs, making real chocolate more profitable than cocoa-free alternatives; Hershey specifically announced it will restore original recipes for all Hershey’s and Reese’s products starting next year following criticism over reformulated 'chocolate candy' with insufficient cocoa.

What caused the 70% drop in cocoa prices since late 2024, and what effect is it having on chocolate production?

The 70% drop in cocoa prices resulted from sharply reduced demand after chocolate makers—facing tripled prices (peaking above $12,000/ton in 2024 due to adverse weather and disease)—shrank bar sizes, added non-cocoa ingredients, drew down inventories, raised retail prices, and invested in cocoa-free alternatives like ChoViva; this demand collapse pushed prices down, and at current levels, producing real chocolate with cocoa butter is now cheaper than making chocolate-flavoured alternatives with vegetable fat, prompting some customers to switch back to chocolate.

As Cocoa Prices Melt Down, Real Chocolate Is Making a Comeback

May 20, 2026

Cocoa futures have plummeted nearly 70% since late 2024, prompting major confectionery makers like Hershey to restore original cocoa content in products. This shift aims to lower consumer prices and boost demand for cocoa farmers amidst legislative tightening in key markets.

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As Cocoa Prices Melt Down, Real Chocolate Is Making a Comeback

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