World Chocolate Shortage Looming?
The world faces a chocolate ‘drought’ over the next few years, an expert warns. Political unrest in the Ivory Coast, where 40 per cent of the world’s cocoa beans are grown, has ‘significantly’ depleted the number of certified fair trade cocoa farmers. Many have fled the West ¬African country, while fair trade training programmes have also come to a halt. The situation is already affecting chocolate manufacturers, who are facing the highest cocoa prices for over 30 years. Prices jumped by 10 per cent this month alone. Analysts are predicting they could soon hit $3,720 per metric tonne – a level last seen in January 1979.