NEW YORK — That bowl of chocolate candy for ninjas and ghosts won’t cost you more this Halloween. But the perfect sweet for your Valentine could.
The cost of chocolate bar ingredients is rising, and candy makers have warned of price hikes next year. And it’s not just the production costs: The world’s growing sweet tooth means more demand for chocolate.
Hershey and Mars, which together account for about two-thirds of US chocolate sales, are raising their prices. Hershey announced an 8 percent increase in the average wholesale price of its candy last summer. Mars said its prices will rise 7 percent.
North America and Western Europe still account for more than half of global chocolate sales, but demand is growing in emerging markets. That’s raising concerns that demand for cocoa beans will outstrip supply.
Chocolate sales in Asia are forecast to grow 23 percent over five years, and 31 percent in Latin America. That compares with growth of 8.3 percent in North America and 4.7 percent in Western Europe over the same period.
The price of cocoa beans rose as high as $3,371 a ton in September, the most since March 2011. It has fallen back but is still 23 percent higher than two years ago.