Source: Radio New Zealand
RNZ
Easter egg prices have increased again as the price of chocolate pushes up costs.
A survey of pricing shows a 325g bag of Cadbury marshmallow eggs is now on special for $10 at Woolworths, down from $13.
Last year, it was $8, down from $12. The same pack was $9.90 at Woolworths in 2022, or $6.50 on special.
Cadbury eggs seem now usually include mini eggs rather than chocolate bars.
Last year, these were on special for $9.90 at Woolworths, down from $15, and a pineapple lumps egg was $12. This year, all of the Cadbury gift box eggs are $13, down from $16.50.
Shopping around might help – Pak’n Save had 325g bags of Cadbury marshmallow eggs for $7.99 on Thursday and a pineapple lumps gift box egg for $7.49. A Caramilk gift box egg was $9.79.
Westpac senior economist Satish Ranchhod said Easter eggs felt more expensive from a shopper’s perspective.
“Global cocoa prices have come down over the past year, but are still pretty high compared to history,” he said.
“We also tend to see prices for boxed – or fancier – chocolates spiking around this time of year. However, Easter eggs aren’t on sale all year round.
“I still think standard chocolate blocks are the best value – albeit not as much fun as the traditional egg shape. Easter eggs and boxed chocolates typically sell for much higher per unit prices than a standard chocolate block. And the chocolate blocks are often nicer chocolate depending on what you by.”
123RF
Otago University’s Murat Ungor said the price increases reflected earlier cocoa price rises.
“Cocoa commodity prices hit their highest levels in nearly 50 years in 2024. Although prices have since fallen by nearly 70 percent from that peak, retail prices have not adjusted as quickly.
“We can point to two economic mechanisms: forward contracting and supply chain lags, and incomplete cost pass-through.
“First, chocolate manufacturers often purchase cocoa months in advance through futures contracts. This means their effective input costs reflect historical prices rather than current spot prices, effectively decoupling retail prices from current market conditions.
“Second, even as cocoa prices have corrected sharply, manufacturers and retailers face no immediate commercial pressure to reduce shelf prices in step. There is a tendency for retail prices to rise quickly when input costs increase, but fall slowly when those costs decline.”
He said there were cost pressures on other ingredients, such as sugar, and the cost of labour had risen, too, which could push up prices.
Stats NZ said in its most recent food price update that a block of chocolate was $6.88 per 250g in February, up 20.3 percent annually.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
