The cost of ice cream is rising. Credits: Lucas, Pexel
This summer, ice cream fans around the world are shocked by this summer as prices skyrocket due to record coconut oil costs due to climate issues and increased fuel demand.
Coconut oil, an important ingredient in many ice creams, has reached the highest monthly price record ever throughout 2025, according to Bloomberg columnist Javier Blas. Brass denounced the surge in “a combination of supply and demand issues, bad weather affecting coconut crops, and increased demand for coconut oil as a fuel source.”
coDiesel canuts
Brass said countries like the Philippines, the world’s top coconut oil producer, are now redirecting large quantities of coconuts to biofuel production.
“The need for cheaper fuel in Asia means more expensive ice cream in the US and Europe,” he said.
He estimated that 4.5 million coconuts (almost a third of the annual harvest in the Philippines) could be used for diesel production next year.
In May, coconut oil reached $2,700 per tonne (approximately 2,500 euros) – twice the price last year in the US.
Spain ice cream prices will also rise
Price increases are also felt throughout Spain. Ice cream producers struggle to stabilize prices due to rising prices for raw materials such as sugar and coconut oil, as well as increased energy bills and costs for corn and tubs.
In Greece, a glass of ice cream is approaching 3 euros
According to That VimaGreek ice cream scoops now cost nearly 3 euros, and a couple’s snack with two scoops each can easily return 12 euros.
One confectioner said he still holds the scoop price at 2 euros, but added, “I don’t know how long we can continue to absorb these increases.”
The worst ingredient is chocolate (80%), but other staples are rising rapidly. Packaged products are up 30-50 cents, with some producers reducing product sizes to offset costs.
Cocoa rises 32% over three years due to drought
Cocoa prices have risen due to severe drought conditions in Ghana and Ivory Coast’s major suppliers. In Spain, cocoa has grown by more than 32% over the past three years, according to the national consumer price index.
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