This Valentine's Day, consumers are facing significantly higher chocolate prices, with a 14.4% increase year-over-year, as reported by multiple sources including Geo Business and KVUE. This spike is primarily due to a shortage of cocoa beans, exacerbated by extreme weather conditions and deforestation in West Africa, which produces about 70% of the world's cocoa. According to WHAS11, cocoa prices skyrocketed from around $2,500 to nearly $13,000 per metric ton at their peak, though they have since decreased to approximately $3,700. Despite this, consumers are still feeling the pinch as chocolate companies had previously purchased cocoa at higher prices, delaying any immediate relief in chocolate costs.