The cost of dining out and ordering in restaurants is rising, with bills potentially rising 5-8% starting this month. This is the first increase in about 1.5 years, as prices of cocoa, coffee, palm oil, and sugar have surged over the past quarter. Cocoa prices have reached a record, reaching over $10,000 per tonne, following disappointing harvests in key producing countries such as Ghana and Ivory Coast. Cocoa prices have doubled in the January-March quarter from the preceding one, and cocoa butter has risen over 150% in just one year.
Eating out and ordering in are getting costlier, as also chocolates. Bills at quick service and fine-dining restaurants may rise 5-8% starting this month as prices of cocoa, coffee, palm oil and sugar have surged over the past quarter.