Easter Baskets Might Be More Expensive Than Ever In 2024

This year's Easter celebrations might have to be padded out with more non-traditional treats than previous years due to the rising cost of both eggs and chocolate, Food Dive reports. Both supply chains have faced challenges for more than a year, and Wells Fargo industry analysts are predicting consumers will continue to see higher prices as the springtime holiday approaches.

In 2022, a massive outbreak of avian influenza, or bird flu, led to the death of more than 52.7 million birds, either because of the disease or because farmers were forced to cull their flocks to prevent the flu from spreading. Egg-laying birds are most susceptible to this form of influenza, and there is unfortunately no cure; for this reason, many farmers had to eliminate entire flocks.

Since the initial outbreak, more than 82 million flocks have been culled. The bird flu and its aftermath continue to impact flocks in 2024, and Wells Fargo analysts predict egg prices will remain high until egg producers can rebuild their hen supply. The U.S. Bureau of Labor Statistics' Consumer Price Index shows that egg prices increased 3.4% in January compared to December.

Egg prices were high leading up to Easter last year, too, which gave opportunity for unexpected players to try landing a spot in our Easter baskets. Potatoes USA, the potato growers' marketing board, encouraged consumers to try decorating potatoes instead of eggs for Easter. The potato promoters noted that spuds are easier for children to hold, less fragile than eggs, and can be eaten after being decorated with food-safe dye and washed.

Meanwhile, cocoa prices reached a record high at the start of this year, essentially ensuring that chocolate-forward holidays like Easter would be pricier for consumers.

"Cocoa trees only grow within 20 degrees of the equator (north and south) and require specific weather conditions to grow, with little room for error, making cocoa especially vulnerable to climate change," Wells Fargo Agri-Food Institute notes in its report.

Cocoa plants in the largest cocoa-growing regions of the world, Ivory Coast and Ghana, have been rocked by environmental factors. These regions have faced heavy rainfall, which led to flooding and the spread of disease, followed by a dry spell and heavy winds. These extreme conditions yielded cocoa harvests that fell well short of demand.

You don't have to break the bank on chocolate bunnies and hard-boiled eggs. Peeps, for example, has rolled out four new flavors for Easter 2024, and some of them taste pretty good. We know they're divisive, but the price is right.