As the world cocoa market shifts from a deficit to a surplus, the chocolate prices could fall according to the International Cocoa Organisation, reported by The Sydney Morning Herald.

In the 2016-2017 season, global production will top demand by 264,000 metric tonnes. The deficit was 196,000 tonnes in the previous year.

If the trend continues, prices for finished cocoa and chocolate products are expected to drop, but it could be some time before the savings reach consumers.

On the other hand, The Mirror reports that chocolate prices in the UK are expected to rise due to the impact of Brexit, with prices rising in the UK about 13 per cent since last year.