Low rainfall in places like Mexico, India and Ivory Coast could lead to lighter sacks of candy for trick-or-treaters this Halloween, as disappointing sugar and cocoa harvests have pushed up candy prices.
The price of candy is up 7.5 percent from last year and 20 percent from 2021, according to the latest data from the Bureau of Labor Statistics.
That is a steeper climb than inflation overall, and has been driven by a spike in the prices of crucial ingredients like sugar and cocoa, which are the highest they’ve been in global wholesale markets in decades.
That’s because of poor harvests stemming from hot, dry weather and the high cost of fertilizer, among other factors.
Sugar cane, which is processed into sugar, and cocoa, a key ingredient in chocolate, are especially sensitive to periods of low rainfall in the tropical regions where those crops grow, like parts of Asia, Central America and West Africa.
Organizations:
Bureau of Labor Statistics
Locations:
Mexico, India, Ivory Coast, Asia, Central America, West Africa