Hershey to bring back real chocolate as cocoa prices slump

Added: 2026-05-28

[00:00:01]After a year of smaller bars or extra wafers, one major chocolate maker is putting the cocoa back in.

[00:00:08]The US confectioner Hershey announced plans to revert next year to original recipes and move away from chocolate alternatives. A near 70% slump in bean prices since 2024 makes the traditional treat more profitable. This shift promises lower shelf prices for consumers and a demand recovery for cocoa farmers. It also signals a partial reversal away from alternatives made with too little cocoa to qualify as chocolate. Industry experts say other major brands are likely to follow suit, but neither Mondelez, Ferrero, nor Nestle made immediate comment. Cocoa prices nearly tripled to record highs in late 2024 thanks to adverse weather and disease. Chocolate makers began shrinking bar sizes, adding more wafers, fruit, and nuts, and introducing chocolate alternatives. But a pivot back to more traditional chocolate would be good news for the nearly 2 million poverty-stricken cocoa farmers in top growers Ivory Coast and Ghana. A leading cocoa expert said the fall in cocoa prices should mean demand recovery will start in the second half of the year.

[00:01:17]However, it will likely take a couple of years to see volumes return to levels seen before the 2024 price rally.