In another cost-of-living blow, chocoholics are being warned the cost of cocoa is at its highest level in nearly four decades

    

The sweet tooth could soon be costing you more than ever with the price of chocolate set to rise even further. Nine Sophie Upcroft has more. Our craving for chocolate will soon cost us a little more. The price of the key ingredient 

cocoa is trading at a 46 year high on the international exchange. The price of the commodity already up 40% from October in overseas markets. There are a few reasons behind the surge. 

Strong demand, outstripping a shortfall in production, El Nino weather patterns in West Africa, the largest growing region set to deliver a smaller than usual harvest and the war in Ukraine sending up fertilizer prices. Locally the cost of sugar is also peaking at an 11 

year high on top of rising wages and the impact of inflation. That'll impact everybody in the chocolate confectionery market. I think always the smaller businesses, particularly the mum and dad chocolate shops might find it a little more difficult 

than the big players. The cost of the sweet treat you buy off the shelf has already risen by around 14% in the past 12 months and will keep climbing. With household budgets already 

under pressure it will be an even more difficult test for chocoholics to resist temptation. Thank you Sophie.