Easter is here, but there's little to celebrate at the chocolate counter. Easter eggs are more expensive than ever in 2026, and a new report by Oxford Economics warns the situation could get even worse next year.
Easter is a major Christian festival celebrated globally. This year, it falls on April 5, just two days away. Easter commemorates the resurrection of Jesus Christ and is one of the most important days in the Christian faith. One of its most popular traditions, especially in Western countries, is gifting decorated chocolate Easter eggs — hollow chocolate shells, often filled with sweets or smaller chocolates, sold in colourful packaging.
But, this year their prices are hitting the sky. The trouble began a couple of years ago in West Africa. In early 2024, disease, poor weather, and ageing trees hit cocoa production in Côte d'Ivoire and Ghana, two countries that together produce around 60% of the world's cocoa. The resulting supply shortfall pushed the global cocoa market into its largest deficit in over 60 years, sending cocoa prices to record highs.
Chocolate makers tried to cope. Manufacturers lowered their cocoa usage by substituting more milk and sugar, which is why Easter eggs looked lighter in colour last year. Better weather and growing production in South America eventually helped bring cocoa prices down from their early 2025 peak, according to the report by Oxford Economics.
So why are Easter eggs still so expensive this year? One key reason is timing. Manufacturers bought their cocoa months in advance at higher prices, and must now sell their chocolate at a higher price as well. Shoppers are paying for decisions made in boardrooms many months ago.
But just as that problem begins to ease, a new one has arrived, this time from the Middle East. The conflict in Iran has meant that around a third of global fertiliser supply is stuck behind the Strait of Hormuz. Restrictions on gas supply, a key input for fertiliser production, have also hit production elsewhere, causing fertiliser prices to surge.
This directly threatens next year's cocoa harvest. West African farmers are now facing astronomical fertiliser prices or may even struggle to source it, just as they approach the most critical time in the calendar for fertiliser application. Less fertiliser means a smaller harvest, and more expensive chocolate down the line.
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