Valentine's day and the whiff of chocolate and cocoa are in the air. The price of cocoa beans is setting unprecedented records on the commodities market and it will certainly turn the gift of love into a bigger financial commitment than it once was.

This Valentine’s Day expect prices for chocolate treats to increase around 10-20% over last year as the price of cocoa has more than doubled since the beginning of 2024,” said David Branch, sector manager at Wells Fargo Agri-Food Institute.