Experts issue warning as beloved food item surges in price: 'A snowball effect from the past year'

Chocolate is consumed year-round but tends to feature heavily during the holidays. So when the cost of a favorite candy rivaled the price of beef in the United Kingdom this season, it was cause for some concern.

What's happening?

The price of Maltesers, a popular UK candy, has been rivaling the price of sirloin steak in the region, according to The Times, a British news outlet. 

The Maltesers' "more to share" size is a 126-gram box and hit £4 (about $5.40 USD) at the supermarket Sainsbury's in early December, pricing it at about £31.74 a kilogram. Sainsbury's sirloin steak, meanwhile, reached £31.33 a kilo.

In recent weeks, Maltesers' prices rose by 16%, according to The Times, which reported that the commodity hit record highs last year after extreme weather and crop diseases affected West Africa.

"This price issue is a snowball effect from the past year," product data expert and Keychain founder Oisin Hanrahan told the British outlet. "Extreme weather in West Africa last year has led to poor yields in countries like [the] Ivory Coast, which is the world's leading producer of cocoa, as well as diseases also hitting harvests."

Wholesale prices have dropped somewhat since, but they remain significantly higher than the typical costs of cocoa and cocoa butter.

Why are higher chocolate prices concerning?

Many favorite groceries and pantry staples are experiencing price increases these days, forcing companies to adapt.

Big companies like Nestlé are substituting cheaper ingredients for cocoa and cocoa butter. Artisan chocolatiers, like Temper Temper Chocolate, have also been offering smaller sizes or changing their packaging to stay afloat as extreme weather, fueled by pollution and human activity, stymies chocolate production and other crop yields.

While chocolate may not seem like a necessity worth worrying over, reduced access to the product certainly poses economic risks to businesses and workers. Higher prices for this commodity also serve as a visible example of climate-related impacts on other, even more basic crops, such as rice and vegetables.

What can be done?

Broadly speaking, the pollution driving extreme weather events and threatening crops could be addressed in part by shifting to cleaner energy sources. Researchers and agricultural producers have also been developing heat- and drought-resistant crops and sustainable farming practices to help protect yields. 

At the individual level, consumers have some options as well. When shopping for groceries, you can look for "fair-trade" and "Rainforest Alliance" labels to ensure you are buying from ethical companies. Shopping mindfully, storing food properly, and using your leftovers can help you manage your grocery bills, too.

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