Valentines chocolates

Source: Getty Images

120 gifting lines have risen in price year-on-year

Shoppers who bought chocolate for their loved ones this Valentine’s Day likely spent more than last year, as shelf prices of gifting lines have risen by as much as 60% in the mults.

Research by The Grocer using Assosia data found that 120 of 177 lines had risen in price year on year across the traditional big four [13 February 2023 vs 13 February 2024].

The largest proportional price increases were seen on Ritter Sport Delightfuls 176g, which soared by 60% from £2.50 to £4 in Asda; and Maltesers Milk Chocolate Gift Box Chocolates 110g, which rose 51.5% from £1.65 to £2.50 in Tesco.

Cadbury Milk Tray Chocolate Gift Box 360g increased 50% from £4 in £6 in Tesco. And Nestlé Black Magic 348g rose 25%, from £4 to £5 in Morrisons.

Asda advised that Ritter Sport Delightfuls 176g were on a rollback promotion last year.

A spokeswoman Maltesers confirmed the price increase on Milk Chocolate Gift Box Chocolates 110g.

“We have been actively trying to find ways to absorb the rising costs of raw materials and operations… Unfortunately, the growing pressures mean that more needs to be done,” she said.

“Raising the price of our products is not a decision we have taken lightly but it is necessary for shoppers to still be able to enjoy their favourite treats without compromising on quality or taste.”

The Grocer understands Nestlé Black Magic 348g was on promotion in Morrisons this year and last, but that the rsp for the product has risen from £6 to £7.

“Like every manufacturer, we have faced significant increases, particularly in the cost of raw materials, as well as energy, packaging and transportation, making it much more expensive to manufacture our products,” said a Nestlé  spokeswoman.

A spokeswoman for Cadbury said retailers were “free to set their own prices in their stores”.

Tesco had replied to requests by the time of writing. 

It comes as poor weather in the Ivory Coast and Ghana, where the majority of the world’s cocoa comes from, has further affected crop yields in recent weeks.

Cocoa prices in New York’s Intercontinental Exchange (ICE) surged to an all-time high of $5,874 (£4,658) per tonne last week – an increase of more than 40% since the start of the year. 

Meanwhile, London cocoa futures rose 7.3%, to £4,600 per tonne, more than double than they were at the start of last year.