Cocoa Shortage Could Send Chocolate Prices Soaring
Chocoholics, you might want to stock up on those Quality Street and selection boxes while you can because insiders are predicting a world chocolate shortage could be on the cards.
Although cocoa trade prices are currently at their lowest level in three years as a result of a bumper crop and a slowdown in consumption in Europe, industry experts are predicting a one-million-ton shortage of cocoa within eight years, fuelled by a growing taste for cocoa in China.
This could see the price of chocolate soar as manufacturers are forced to increase the use of nuts and other expensive ingredients to add bulk to their bars.
An area the size of the Ivory Coast would need to be cultivated to satisfy the demand.
Experts are warning that farmers need more training to help increase their cocoa bean crops to prevent prices soaring.
If that wasn’t excuse enough to go out and start stockpiling the sweet stuff, find out more about the health benefits of chocolate below and enjoy some guilt-free indulgence.