An Important Update on Cocoa Prices

January 16th, 2025
A letter from our CEO, Nate Hodge:
 
Let’s talk about the bad news first: Due to increased cocoa costs, we’ll be raising prices on our website by an average of 14% on January 23rd. If you’ve been following the news, you may have heard that cocoa prices have skyrocketed to unprecedented levels, increasing by 260% last year and nearly 400% over the past 2 years. Drought, disease, general changes in climate, and underinvestment in sustainable land management practices have all contributed to a global shortage of cocoa. This shortage may be here for a while and will impact the price of chocolate products industry-wide.
 
Now for some good news. We’ve always advocated for cocoa farmers, it’s one of the main reasons we got into this business in the first place. While this shortage may be putting a strain on our wallets, in the short term, it’s helping farmers earn significantly more than they have in the past. In some ways, this is a much-needed correction to the cocoa market that is improving the economic status of farmers and their families. Of course, market fluctuations mean that prices will eventually stabilize, and when they do, farmers will once again be forced to make difficult decisions as to what cash crops to grow to best care for their families. Such is the reality of a commodity-based economy.
 
Through these ups and downs, we remain committed to guaranteeing higher wages for higher-quality cocoa, ensuring we can continue making the best possible chocolate for you, our loyal customers. In doing so, WE support the hardworking farmers who make fine flavor chocolate possible for all of us to enjoy. We will continue paying prices above the commodity market for our cocoa today, tomorrow, and for as long as exceptional cocoa exists. And we will continue to lead the industry into an era of transparency because it’s what we believe is the right thing to do.
 
Thank you for recognizing our commitments to quality and transparency and for your continued support as we advocate for these values.

Best Wishes in 2025, 
 
Nate Hodge
CEO and Co-Founder
Raaka Chocolate