Chocolate prices may increase following hike on export costs from African cocoa producers

If you've given up sweets in the new year, that may be a good thing as the cost of chocolate could be going up.

The West African countries of Ghana and the Ivory Coast, which both export more than 60% of the world's cocoa, are combining to create their own chocolate cartel.

They've immediately upped the price on exports by $400 per metric ton -- and at least one major cocoa processor expects to pass that increased cost along to consumers.